28.
| (1) the Board may, having regard to the circumstances in which offence under this Act is committed compound such offence for a sum of money not exceeding one-third of the fine imposable for such offence and all sums of money received by the Board in the compounding of an offence under this section shall be credited to the Fund of the Board. |
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| (2) Where the Board is satisfied that a specified business enterprise or an auditor has contravened any provision of this Act and that such contravention is not of a serious nature it may-
| | (a) direct such specified business enterprise to have its accounts reedited or where such accounts have been published, to republish them or to include suitable correction in its accounts for the following year; or | | |
| | (b) where such specified Business enterprise is a public company, direct such public company to send a notification in writing to all its shareholders explaining the reason for such non-compliance and the financial effect of such non-compliance on the accounts of such public company and where such specified business enterprise is a public company listed in a stock exchange licensed by the Securities and Exchange Commission of Sri Lanka, to send in addition, a copy of such notification to such Commission and such stock exchange. | | |
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Sri Lanka Consolidated Acts