Regulatory Alerts2014-09-22
SEC Sri Lanka Directive Lifting Price Constraints for Financial Consolidation Plan Transactions
The Securities and Exchange Commission of Sri Lanka issued a directive to lift price constraints on the Colombo Stock Exchange's crossings board for share transactions falling within the Central Bank's financial sector consolidation plan. Companies must apply to the Commission on a case-by-case basis to determine if their proposed transactions qualify for this exemption. The directive mandates the exchange to remove these constraints upon SEC determination and became effective immediately upon issuance on September 22, 2014.
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