The Cabinet has approved to introduce a special bill for the re-registration of companies incorporated or registered under the Companies Act.

The operations, procedures, and other requirements related to companies operating in Sri Lanka are outlined under the Companies Act No. 7 of 2007. As of March 31, 2024, there are approximately 199,484 companies incorporated or registered under this act.

Currently, there is no provision in the existing law to identify the number of active companies among those registered under the act. Recognizing the need for new legislation to address this gap, the Cabinet approved a proposal by the Minister of Industries to introduce new laws to facilitate the re-registration of companies.

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Lanka Sathosa Announces Daily Release of 300 Metric Tons of Rice

Bydaily reporter

Chairman of the Lanka Sathosa Ltd Dr. Samitha Perera said that 300 metric tons of rice are being released daily to the market through Sathosa outlets. The rice will be sold at government-controlled prices. He also emphasized challenges in formulating an emergency response plan for rice imports while protecting local farmers.

Sri Lanka Welcomes Over 2 Milllion Tourists
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Sri Lanka Welcomes Over 2 Milllion Tourists

Bydaily reporter

The number of tourists who visited Sri Lanka this year surpassed 2 million as of today. Today, 53-year-old Prasan Inokanunt, a journalist from Thailand, and his wife arrived in Sri Lanka, marking the milestone of the 2 millionth tourist this year. A special ceremony was held at Bandaranaike International Airport Katunayake to welcome the couple….

Central Bank, NGO Secretariat and weaponisation of Financial Action Task Force
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Central Bank, NGO Secretariat and weaponisation of Financial Action Task Force

Bydaily reporter

Historically, practically every Sri Lankan Government has attempted to enact repressive legislation to control civil society organisations/non-governmental organisations (CSOs/NGOs). The most recent iteration of this is the notice issued by the NGO Secretariat (hereinafter the Secretariat) on 12 December 2024 instructing all CSOs/NGOs, including those registered under other laws, such as the Companies Act, to…

Asian Human Rights Commission writes a letter to the Honorable President of the Democratic Socialist Republic of Sri Lanka on needed Justice Reforms
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Asian Human Rights Commission writes a letter to the Honorable President of the Democratic Socialist Republic of Sri Lanka on needed Justice Reforms

Bydaily reporter

I am writing on behalf of the Asian Human Rights Commission, a regional Human Rights Organization based in Hong Kong, to raise three vital areas that need immediate attention by way of initiatives for reforms in order to ensure the restoration of the rule of law and respect for human rights in Sri Lanka. The…

Fairly heavy showers expected in parts of the island
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Fairly heavy showers expected in parts of the island

Bydaily reporter

The Meteorology Department says showers will occur at times in Western and Sabaragamuwa provinces and in Galle and Matara districts. Several spells of showers may occur in North-western province. Showers or thundershowers will occur at several places in Uva, Central and Eastern provinces and in Hambantota and Polonnaruwa districts during the evening or night, the…