19.
| (1) On receipt of an application made under section 15, the Council having considered the particulars stated therein and, where it deems necessary, having given the applicant an opportunity of being heard, in person or by a representative, shall by written notice to the applicant, inform the applicant whether he is being granted licence or not. |
|
| (2) Where the Council grants a licence to-
| | (a) a body corporate to carry on the business of a stock exchange, it shall issue a certificate to that effect for a period of five years; or | | |
| | (b) any person to carryon the business of a stock broker or stock dealer, it shall issue a certificate to that effect for a period of one year. | | |
|
|
|
Sri Lanka Consolidated Acts