Regulatory Alerts2009-01-01
Securities and Exchange Commission of Sri Lanka (Amendment) Act, No. 47 of 2009
The Parliament of Sri Lanka enacted this law to amend the Securities and Exchange Commission of Sri Lanka Act, No. 36 of 1987. The legislation modifies the Commission's composition by requiring six private sector members with expertise in law, finance, banking, or business, and grants the Commission authority to issue directives to listed public companies. Additionally, the Act expands the statutory definition of securities to include derivatives and other instruments while excluding bank-issued certificates of deposit.
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