Category: Legal

Police discipline in Sri Lanka is to go back to the lap of the National Police Commission (NPC) as police behavior shows no hint of improvement under the Inspector General of Police.Police discipline in Sri Lanka is to go back to the lap of the National Police Commission (NPC) as police behavior shows no hint […]

Laid off employees can get up to 48 months of compensation and a state dole to go home, under a newly minted labour employment formula rolled out on Wednesday. Laid off employees can get up to 48 months of compensation and a state dole to go home, under a newly minted labour employment formula rolled […]

The Central Bank sent out a detailed statement justifying its reasons for winding up the failed Pramuka Savings & Development Bank. The Central Bank sent out a detailed statement justifying its reasons for winding up the failed Pramuka Savings & Development Bank. The bank suspended Pramuka’s licence two years ago, for alleged frauds and mounting […]

Central Bank officials say they will prosecute directors of the failed Pramuka Savings and Development Bank (PSDB) which is being liquidated by the regulator.Central Bank officials say they will prosecute directors of the failed Pramuka Savings and Development Bank (PSDB) which is being liquidated by the regulator. The Attorney Generals department is currently examining provisions […]

A government decision to hit foreign purchases of land with a 100 percent transfer tax could backfire by driving away foreign investments and hurting local companies. A government decision to hit foreign purchases of land with a 100 percent transfer tax could backfire by driving away foreign investments and hurting local companies. The government plans […]

The government is trying a backdoor move to slip in a clause that classifies local firms, which are 25 percent foreign owned, as non-citizens.The government is trying a backdoor move to slip in a clause that classifies local firms, which are 25 percent foreign owned, as non-citizens. The clause was quietly slipped into the Tax […]

The government cancelled 528 land transactions under the Land Reclamation Commission (LRC) on Thursday.The government cancelled 528 land transactions under the Land Reclamation Commission (LRC) on Thursday. All land transactions between January 2002 and March 2004, of State land under the LRC, are cancelled as of now, said the Cabinet spokesman Mangala Samaraweera on Thursday. […]

A top audit expert is asking authorities close ownership loopholes on investment trusts, as capital market regulators tighten the noose on auditors and listed companies. A top audit expert is asking authorities close ownership loopholes on investment trusts, as capital market regulators tighten the noose on auditors and listed companies. The requests comes as the […]

The government strongly condemned pyramid schemes today promising quick cabinet approval to draft anti-pyramiding legislation. The government strongly condemned pyramid schemes today promising quick cabinet approval to draft anti-pyramiding legislation. “This government is warning the public of this country very seriously not to invest in these pyramid schemes,” Finance Minister Dr. Sarath Amunugama told a […]

Senior Presidential Advisor Mano Tittawella on Wednesday told a conference hall full of donor agency representatives that a draft bill to set up the Strategic Enterprises Management Agency (SEMA) is being pushed through to give legal teeth to its reform agenda.Senior Presidential Advisor Mano Tittawella on Wednesday told a conference hall full of donor agency […]

The Securities watchdog has asked the Institute of Chartered Accountants to incorporate the SEC’s views into the ICASL’s corporate governance code. The Securities watchdog has asked the Institute of Chartered Accountants to incorporate the SEC’s views into the ICASL’s corporate governance code. The Securities & Exchange Commission says the changes should be made within the […]

Black July is past but not gone for good, warns the Asian Human Rights Commission (AHRC) pointing to cases of police torture that continue to occur in Sri Lanka.In January this year, the High Court of Colombo sentenced a Sub-Inspector of Police to seven years rigorous imprisonment with a fine for torturing an innocent civilian.rn […]