4. Section 13 of the principal enactment as amended by Act, No. 26 of 1991 is hereby further amended as follows :-
| (1) by the insertion, immediately after paragraph (bb)of that section, of the following new paragraph:- |
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| "(bbb) to grant a certificate of registration to any person to carryon business as a market intermediary and to ensure the proper conduct of such business ;"; |
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| (2) by the repeal of paragraph (c) of that section and the substitution therefor of the following paragraph : |
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| "(c) to give general or specific directions to a licensed stock exchange or a licensed stock broker or a licensed stock dealer or a licensed managing company or a trustee of a unit trust or a registered market intermediary, from time to time;"; |
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| (3) by the substitution in paragraph (d) of that section for the words "resulting from the failure of a licensed stock broker or a licensed stock dealer to meet" of the words, "arising as a result of any licensed stock broker or licensed stock dealer being found incapable of meeting"; |
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| (4) by the insertion immediately after paragraph (f) of that section, of the following new paragraphs ; |
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| "(g) to regulate the listing and issue of securities in a licensed stock exchange; |
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| (gg) to direct a licensed stock exchange to reject any application made to it for listing;"; |
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| (5) by the substitution in paragraph (h) of that section, for the words "any given listed securities", of the words "any listed securities": |
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| (6) by the repeal of paragraph (i) of that section, and the substitution therefor of the following paragraph ;- |
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| "(i) to inquire and conduct investigations into any activity of a licensed stock exchange, a licensed stock broker or licensed stock dealer, a licensed managing company or a trustee of a unit trust, a registered market intermediary or any listed public company;"; |
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| (7) by the repeal of paragraph (j) of that section and the substitution therefor of the following paragraph : |
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| "(j) to publish findings of malfeasance by any licensed stock broker or licensed stock dealer or a licensed managing company or a trustee of a unit trust, or a registered market intermediary or any listed public company;"; |
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| (8) by the repeal of paragraph (n) of that section and the substitution therefor of the following paragraphs : |
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| (n) to regulate take-over or mergers where such take-over or merger is between one or more listed companies or where at least one of the parties involved in such take-over or merger is a listed public company; |
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| (o) to conduct investigations into any alleged violation or contravention of the provisions of this Act or any rule or regulation made thereunder by any person; and |
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| (p) to do all such other acts as may be incidental or conducive to, the attainment of the objects of the Commission or the exercise of its powers under this Act.". |
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Sri Lanka Consolidated Acts