16. The following new section is hereby inserted immediately after section 28 and shall have effect as section 28A of the principal enactment :
| 28A. Where shares in any public company are allotted to any person prior to its listing in a licensed stock exchange, no shares or any security convertible to shares in any such company shall be listed on a licensed stock exchange within a period of one year from the date of the last allotment, unless the written approval of the Commission is obtained for that purpose prior to such listing, ". |
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Sri Lanka Consolidated Acts