Category: Legal

Hotelier George L A Ondaatjie compounded his case with the securities watchdog for an alleged insider dealing offence by paying up a Rs. 2 mn fine, the regulator said Friday. Hotelier George L A Ondaatjie compounded his case with the securities watchdog for an alleged insider dealing offence by paying up a Rs. 2 mn […]

The LTTE continued recruiting children in 2004 but says it is willing to talk with the United Nations to set up a child recruitment monitoring system.The LTTE continued recruiting children in 2004 but says it is willing to talk with the United Nations to set up a child recruitment monitoring system. The LTTE notified the […]

The government will soon amend existing laws to help tsunami victims that will expedite issuing of death certificates and increase the age of adoption of children left orphan by the Dec.26 disaster, the justice minister said Monday.The government will soon amend existing laws to help tsunami victims that will expedite issuing of death certificates and […]

The securities watchdog is looking at expanding the Takeovers & Mergers Code to cover indirect takeovers. The securities watchdog is looking at expanding the Takeovers & Mergers Code to cover indirect takeovers. The Securities & Exchange Commission’s (SEC) powers are presently limited to companies quoted on the Colombo Stock Exchange. Hence its Takeovers & Mergers […]

Legislators included an outdated provision from the old Fair Trade Commission law when a new Act for consumer protection was passed a couple of years ago. Legislators included an outdated provision from the old Fair Trade Commission law when a new Act for consumer protection was passed a couple of years ago. Government is now […]

Depositors and creditors of the failed Pramuka Bank sought legal action on Tue demanding Rs. 6 bn as damages from the regulator, the auditors and directors. Depositors and creditors of the failed Pramuka Bank sought legal action on Tue demanding Rs. 6 bn as damages from the regulator, the auditors and directors. The District Court […]

The government is going ahead with plans for a ‘no-building’ zone along the island’s coast. The government is going ahead with plans for a ‘no-building’ zone along the island’s coast. “We have already started putting temporary markers on the 100m zone.The Coast Conservation Department will fix the permanent markers.Then we will demarcate it on the […]

About 228 directors presently sitting on boards of Sri Lankan commercial and specialised banks may soon be out of job, if they fail to pass the Central Bank’s upcoming litmus test. About 228 directors presently sitting on boards of Sri Lankan commercial and specialised banks may soon be out of job, if they fail to […]

Sri Lanka is to arm itself with tough emergency laws before a major post-tsunami reconstruction effort which has secured unprecedented international financial backing, officials said. Sri Lanka is to arm itself with tough emergency laws before a major post-tsunami reconstruction effort which has secured unprecedented international financial backing, officials said. The laws proposed by President […]

Battered victims of Sri Lanka’s tsunami, are facing another blow as the government draws up plans to grab their only remaining asset, the piece of valuable coastal land where they used to live.Battered victims of Sri Lanka’s tsunami, are facing another blow as the government draws up plans to grab their only remaining asset, the […]

Sri Lanka’s booming tourism industry and its markets are likely to take an initial beating from Sunday’s devastating tsunami, which killed an estimated 11,500 and left more than a million homeless in the island nation of 19 million.Sri Lanka’s booming tourism industry and its markets are likely to take an initial beating from Sunday’s devastating […]

Sri Lanka’s booming tourism industry and its markets are likely to take an initial beating from Sunday’s devastating tsunami, which killed an estimated 11,500 and left more than a million homeless in the island nation of 19 million.Sri Lanka’s booming tourism industry and its markets are likely to take an initial beating from Sunday’s devastating […]