Category: Legal

The Banking Act, the Monetary Law Act and the upcoming Exchange Rate Management Act are likely to be abolished early next year. rnrnOfficials however, say amendments to the Banking Act and the Monetary Law Act, which governs the Central Bank, will still go ahead in August as a stopgap measure. rnrnAs part of a marathon […]

A committee drawn up by the SEC will study wide range of matters including the separation of audit function from consultancy, the rotation and change of auditors and the composition, scope and powers of auditing committees. Representations should be forwarded by August 15, SEC says. rnThe local accounting fraternity has also launched a programme after […]

Officials say the draft act that will protect ownership rights was completed early last year and is now pending parliamentary approval.rn rnAn attempt was made last year to ratify the draft act through parliament, but failed due to the political changes halting parliamentary proceedings. rn rnThe act will put in place a regulatory body with […]

The revised act with lower taxes and penalties for defaulters is expected to encourage bookkeepers and casinos to be a recognised taxpayer.rn rnThe exercise is expected to net in over Rs. 200 million to government coffers, under the budget for 2002 presented by the UNF coalition. rn rnInland Revenue authorities have already begun their campaign […]

Trade Unions waging war against the Unilever quote s Mabola tea factory closure have decided to stick to a ldblquote remaining service life dblquote claim as the only acceptable compensation for the redundant staff.

The two agreements will lay a foundation on which future growth plans can be built, CEAT-Kelani Associated Holdings Managing Director V. Sekhar said. rnrn”With active technology support and assistance from CEAT India, the CEAT tyres in Sri Lanka have been re-designed for enhanced performance and coupled with an aggressive pricing strategy. CEAT-Kelani is now poised […]

While front running was included as a new offence, the new rules broadly look at facilitating deregulation process of the industry, SEC quote s Director Legal, Kithsiri Gunawardene told Lanka Business Online. rnThe Securities and Exchange Commission quote s rules lay down the procedures to grant licences to the stock exchange, stockbrokers and stock dealers. […]