Category: Legal

April 16, 2007 (LBO) – Sri Lanka’s long-delayed new Companies Act offers greater protection for minority shareholders and could encourage more firms to list on the Colombo bourse while increasing market liquidity, experts have said. All existing firms must register again with the Registrar of Companies so that dormant ones can be weeded out under […]

April 10, 2007 (LBO) – Heightened security in the country has allowed authorities to nab more drug dealers and abusers last year with arrests climbing 69 percent, Sri Lanka’s anti drug authority said. “Each ‘flavour’ gives a different feeling and hallucinations.” In 2006 the drug related arrests had increased to 47,000 and 34,000 related to […]

April 06, 2007 (LBO) – Sri Lanka’s accounting watchdog has gained membership of a global accounting regulatory forum, the regulator said in a statement. IFIAR with 22 members, focuses on improving audit quality in the institutions and the sustainability of good auditing strategies, the watchdog said. The Sri Lanka Accounting and Auditing Standards Monitoring Board […]

April 03, 2007 (LBO) – Sri Lanka needs to master trade law to take the best advantage of international trade, Chief Justice Sarath Silva said Tuesday at the announcing of an international trade law conference to be held in Sri Lanka. But Third World countries maintain they need to protect crucial sectors of their economies […]

March 21 (LBO) – In Sri Lanka, women already outnumber men at 52 women for every 48 men and activists are warning that the proportion would increase if the war continues. However, in the workplace prospects are not all that rosy for Sri Lanka’s ladies. Women are still a minority among Sri Lanka’s parliamentarians and […]

March 21 (LBO) – An investment protection agreement between Sri Lanka and Australia has come into effect from March this year with Australia, which can increase investment flows to the island, the foreign ministry said. Sri Lanka had completed its internal legal requirements in February 2006. “The Agreement sets out the State to State guarantees […]

March 16 (LBO) – Allowing employers and female workers to negotiate a work-family balance is far more effective in practice than laws, Sri Lankan women in business told a forum this week. In 2005, 7.52 million of Sri lanka’s labour force was employed of which 30.9 percent were females, statistics show, which was half the […]

Mar 15, 2007 (LBO) –Sri Lanka is to soon begin a survey to re-draw its continental shelf boundary with the help of a British survey company, a top official said Thursday. (1 nautical mile = 1.852 kilometers) Geophysical survey company Geotechnical Engineering and Marine Surveys (GEMS) of the UK is to conduct the two-month study, […]

March 14 (LBO) – Sri Lanka is to develop an oil exploration laws and establish a regulatory system with funding from the United States, the US embassy in Colombo said Wednesday.The Ministry of Petroleum and Petroleum Resources Development is getting a 51 million rupee grant from the US Trade and Development Agency to develop oil […]

March 7, 2007 (AFP) – Nine media workers have been killed in Sri Lanka over the past 15 months, rights groups said Wednesday, voicing concerns over deteriorating conditions for journalists. No one has been charged over the deaths, leading to fears that media freedom is being deliberately and violently suppressed through threats, abductions and attacks, […]

February 27 (LBO) – Sri Lanka’s accounting watchdog said Tuesday it would take action against Touchwood over its accounting practices and would also probe the listed forestry investment firm’s auditor. The firm was audited by KPMG. The Colombo Stock Exchange referred the company to the Sri Lanka Accounting and Auditing Standards Monitoring Board (SLAASMB) when […]

February 27 (LBO) – Sri Lanka will allow hearing of appeal cases to be decentralized to its provincial courts, to clear a ten-year backlog of cases, officials said Monday. There is a backlog of appeal cases from 1995, with Sri Lanka having only three courts in its court of appeal to handle all cases that […]