The Cabinets Axe
The Cabinet of Ministers rejected a decade old draft Companies Act over its departure from English Law principles.A Cabinet sub committee that had a look at …
Legal
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Working Late
Cabinet cleared four amendments to the Shop and Office Act, supporting nighttime employment and an increase in workman compensation.If passed in Parliament in …
Act Two
The private sector is calling for amendments to the Consumer Affairs Authority Act that is due to come into force on April 1, saying it has too many holes.The …
Dud Ball
Professional service sectors are trying to drum up support to push for amendments that will re-define the scope of the new Consumer Affairs Authority Act. …
Out Of Order
Lawyers for Pramuka depositors told court Friday that the monetary board had no authority to liquidate Pramuka Bank.Depositors argued that the Monetary Board …
Courtroom Battle
The Court of Appeal Thursday issued notice against the securities watchdog to stop it from prosecuting three former Aitken Spence Directors.Former SEC …
Please Reply
The Court of Appeal Thursday asked Central Bank to file objections on a case brought against them by Pramuka Banks Directors.The Central Bank last December …
Safety Features
A tentative take off date of April is on the cards for the social security net for retrenched workers, with an ILO report on its way to Cabinet.The security …
Changing Rules
The securities watchdogs powers were beefed up, after parliament passed its long overdue amendments on Tuesday.The amendments, which were broadly aimed at …
Small Change
Compensation as an alternative to reinstatement was removed from the amendments, one of the few changes made to the original amendments to four labour related …
Labour Law
A blueprint for the proposed social security net for redundant workers is in its final stages, with International Labour Organisation (ILO) consultants to …
Adding Muscle
The Central Bank tightened its hold over licensed specialized banks after the latest amendment to the Monetary Law Act was passed in Parliament.One clause …
Fair Deals
A separate Monopolies and Mergers Commission is being spun off from the new Consumer Protection Act, Fair Trading Commission (FTC) officials said.Modelled on …
Computers In Business
A new law that will formally recognize transactions and contracts made through computers is now being drafted officials say.Sri Lankan law does not recognize …
Overhaul of key financial legislations
The Central Bank is seeking consultancy expertise to help overhaul key financial legislations early next year.The US$ 30 mn World Bank grant project will cover …
Legal Clean Up
The Central Bank is seeking legal expertise to help overhaul key financial legislations early next year.The project will cover the Monetary Law Act, Banking …
Bankruptcy Law Coming
US style bankruptcy protection laws are on the pipeline covering sole traders and partnerships in addition to limited liability companies.The Private sector …
Tinkering With Monetary Laws
The amended Monetary Law will refocus the Central Bank to key objectives of economic, price and the financial system stability.The Central Bank presently …
Fresh Look
The Act will be brought in line Basle requirements and international best practices.rnrnThe Banking Law governs commercial and specialized banks.rnrnThe SEC …
Fast Track
Cabinet has rubber stamped a Labour Ministry proposal to clear a backlog of fifteen thousand labour tribunal cases on a fast track basis. The proposal to be …