46.
| (1) The Council may establish a Committee consisting of three members of the Council to hear and determine complaints of shareholders of any public company listed in a licensed stock exchange, relating to the professional conduct or activities of such stock exchange, any licensed stock broker, or stock dealer of such exchange. |
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| (2) The Committee may, on receipt of any written complaint made by any shareholder, examine the documents and other evidence produced, if any, in support of such complaint, and determine whether such licensed stock exchange or any licensed stock broker or stock dealer of such stock exchange has violated any provisions of the Act or any rule or regulation made under this Act. No such determination shall be made without affording such licensed stock exchange, licensed stock dealer, or stock broker, an, opportunity of being heard. |
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| (3) Where the Committee determines ,that a licensed stock exchange or any licensed stock broker or stock dealer, of such exchange has violated any provisions of this Act or any rule or regulation made under this Act, the Committee shall recommend to the Council the nature of action to be taken against such licensed stock exchange, or any licensed stock broker or stock dealer, as the case may be. |
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| (4) The Council shall upon receiving such recommendations made by the Committee under subsection (3) , take such action as it may deem expedient, in accordance with the provisions of this Act. |
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Sri Lanka Consolidated Acts