Sri Lanka Consolidated Acts

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Securities Council Act (No. 36 of 1987) - Sect 22

Appeal from a refusal, cancellation or suspension

22.
(1) Any person aggrieved by a decision of the Council-
(a) refusing to grant a licence under section 19 ; or
(b) cancelling or suspending a licence under section 21, may appeal to the Secretary to the Ministry of the Minister against such refusal, cancellation or suspension as the case may be, within three months from the date on which the decision was communicated to such person.
(2) The Secretary to the Ministry of the Minister may require the Council to show cause for its decision to his satisfaction.
(3) An applicant who is aggrieved by the decision of the Secretary to the Ministry of the Minister may appeal against such decision to the Court of Appeal, within fourteen days from the date on which the decision was communicated to the applicant.
(4)Until rules are made under Article 1:16 of the Constitution pertaining to appeals under this section, the rules made under that Article pertaining to application by way of revision to the Court of Appeal shall apply to every appeal made under sub section (3) of this section.
(5) The Court of Appeal may, on an appeal made to it under this section confirm, revise, modify or set aside the decision of the Secretary to the Ministry of the Minister, and may make an order as the interest of justice may require.


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