Category: Legal
Sri Lankan Cabinet Approves Temporary Suspension of Parate Law
In a move aimed at alleviating the burden on small and medium-sized enterprises (SMEs), the Sri Lankan cabinet has approved the temporary suspension of the implementation of the parate law. The decision was announced following a cabinet paper presented by President Ranil Wickramasinghe, who also serves as the Minister of Finance. The parate law allows […]
Police warn against improper leasing practices; court order mandated for repossession upon resistance
The Inspector General of Police (IGP) has issued a directive to all officers, highlighting concerns regarding the improper acquisition of vehicles and equipment through leasing companies and finance companies. The Finance Leasing Act, No. 56 of 2000 details specific steps for repossessing leased equipment, including notifying authorities and obtaining court orders when necessary. The IGP […]
UNICEF welcomes commencement of amendments to Children & Young Persons Ordinance
UNICEF welcomes the long-awaited amendment to the Children and Young Persons Ordinance (CYPO) coming into force effective January 1, 2024, which marks a significant step towards protecting the rights and welfare of all children in Sri Lanka. The CYPO, a legislation governing justice for children in Sri Lanka since 1939, previously only covered those up […]
Microfinance & Credit Regulatory Authority Bill: TISL Files Petition in Supreme Court
Transparency International Sri Lanka (TISL) yesterday (January 22) petitioned the Supreme Court challenging the ‘Microfinance and Credit Regulatory Authority Bill’, stating that it fails to sufficiently address or introduce a fit scheme to enable the regulation of the extortive and predatory practices that microfinance lenders engage in at the grassroots levels. The Bill was placed […]
Two individuals arrested over misuse of funds at SEC: Police
Nov 04, 2015 (LBO) – Sri Lanka’s Criminal Investigations Division has arrested two individuals, including a Securities and Exchange Commission (SEC) official, over the misuse of funds in 2013, the Police Spokesman said.The investigation is into financial irregularities of 5 million rupees from 2013 involving the Tharunyata Hetak Fund.In May, the CID questioned several officials […]
Sri Lanka to tighten mandatory imprisonment for rapes and child abuses
Oct 21, 2015 (LBO) – Sri Lanka is to amend the penal code to tighten the mandatory imprisonment for the offenders of rapes and child abuses, Prison Reforms Minister Thilak Marapana said. According to government statistics 311 rape and 5,762 child abuse cases have been reported in the year 2014.Even though under the existing penal […]
Volkswagen shares plunge 20 pct on admission of rigged emission tests
Sept 22, 2015 (LBO) – Shares of Volkswagen fell nearly 20 percent on Monday after the German carmaker admitted it had manipulated emissions tests of diesel vehicles in the United States, media reports said. The U.S. Environmental Protection Agency on Friday accused the carmaker of using software that tricked regulators who measured emissions from these […]
Nestle to be sued for nearly USD100mn by India for unfair trade practices
Aug 13, 2015 (LBO) – India’s government Wednesday said that it has filed a suit with the country’s top consumer court, National Consumer Disputes Redressal Commission, for 6,400 million rupees (.6m) in damages from the Indian arm of the Swiss food giant Nestle.The complaint was filed under “unfair trade practices,” foreign media reported.The country banned […]
Sri Lanka Red Cross clarifies loaning a “Defender” to Siriliya foundation
Aug 11, 2015 (LBO) – Sri Lanka Red Cross Society says it is unaware of the activities and maintenance of the Land Rover Defender that was loaned to Siriliya Saviya Foundation following an official request.The vehicle is now in the possession of the Criminal Investigation Department probing the murder of rugby star Wasim Thajudeen, the […]
Sri Lanka’s Finance Minister Ravi Karunanayake accuses Attorney General Department
July 24, 2015 (LBO) – Sri Lanka’s Finance Minister Ravi Karunanayake on Friday accused Attorney General over an incident occurred when dealing with the Golden Key Depositor’s issue. “Everyone thinks Attorney General is on our government side.But what we see here is an act against our government. Even yesterday night there was going to be a problem,” […]
Sri Lanka to take legal action to obtain due payments for the transport used in last presidential election
July 23, 2015 (LBO) – Sri Lanka cabinet of ministers had decided to take legal action to get the payments due and to obtain compensations for the damages that had been caused, for the transport used in last presidential election, cabinet spokeman Rajitha Senaratne said at a press briefing held in Colombo. Minister of Internal […]
Sri Lanka to ratify UN convention on electronic communication
June 11, 2015 (LBO) – Sri Lanka’s cabinet has approved a proposal made by Foreign Minister to ratify a convention on electronic communication with regard to the International agreements, Cabinet Spokesman Minister Rajitha Senarathne said.It has also been proposed to empower the Information Communication Technology Agency to make recommendations on revisions and modifications that may […]