38. The following new section is hereby inserted immediately after section 46 and shall have effect as section 46A of the principal enactment ;
| 46A. (1) The Commission or any person duly authorized in that behalf by the Commission, may carry out such investigations or hold such inquiries as it or he may consider necessary or expedient for the exercise, performance and discharge of the powers, duties mid functions of the commission under this Act and for such purpose summon and call upon any person to appear before it or him to give evidence or to produce any books or documents in the possession or control of such person, as are required for the purpose of such investigation or inquiry, |
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| (2) For the purpose of carrying out an investigation or inquiry under subsection (1), the Commission may authorize in writing any officer to enter at all reasonable hours of the day any premises of a licensed stock exchange, any licensed, stock broker, any licensed, stock dealer, any listed public company, licensed managing company of any unit trust a registered, market intermediary, and inspect and take copies of any records required to he kept under this Act or under, any regulation or rule made under this Act or any other law in respect of such business. |
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| (3) Any person summoned or called upon to appear before the Commission or any person duly authorized in that behalf under subsection (1), maybe examined orally, and any statement made by the person so examined may be reduced to writing. Every such statement reduced to writing shall be signed by the person so examined provided that prior to signing the same, such statement shall be shown or read to such person or if he does not understand the language in which it is written it shall be interpreted to him in a language he understands and he shall be at liberty to explain or add, to the same. |
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| (4) Every person who fails to appear before the Commission or the person authorized, as the case. may ,be, when required to do so under subsection, (1), or who refuses to answer any question put to him by, the Commission, or a person duly authorized by the Commission or who refuses to produce any book or document in his possession or control when required to do so, or knowingly gives any false answer to any question put to him by the Commission or a person duly' authorized by the Commission, shall be guilty of an offence under this Act and shall on conviction after summary trial before a Magistrate be liable to a term of imprisonment of either description not exceeding five years or to a fine not exceeding one million rupees or to both such imprisonment and fine.". |
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Sri Lanka Consolidated Acts