Blog
Labour Law in Sri Lanka – Sinhala Working Hours & Overtime Termination Workmen’s Compensation Labour Law in Sri Lanka – Tamil Holidays & Leave Privileges Minimum Wages Employees who are occupied in an office or shop will be administered by the Shop and Office Employees (Regulation of Employment and Remuneration) Act
Blog
ESTABLISHMENT OF AN ENTITY IN SRI LANKA Sri Lanka is ranked highly among the South Asian countries that offer ease in terms of establishing an entity. The country has a well documented and established procedure of setting up a business. Foreign ownership restrictions * Limited Liability Company As far as foreign
Blog
The Companies Act of April 2007 introduced the concept of a “Solvency Test” that should be satisfied by a company before and after a number of transactions including but not limited to distributions, purchase of its own shares and capital reductions. The solvency test imposes an obligation on the directors
Blog
OVERVIEW OF THE PERMITS, LICENSES AND APPROVALS REQUIRED IN SETTING UP A SMALL SCALE POWER PLANT Once the energy source to be utilized by the (SSPPP) Small Scale Power Plant Project has been identified a prefeasibility study should be conducted to ascertain the economic viability of the project. The Study
Blog
In Sri Lanka, the administration of the Company Takeovers and Mergers Code is the function of the Sri Lankan Securities & Exchange Commission (SEC). The Code is a set of rules made by the Commission under the provisions of the Securities & Exchange Commission Act.The Code is applicable to
Blog
Admiralty action in the jurisdiction of Sri Lanka is derived from the Admiralty Jurisdiction Act No. 40 of 1983 (“AJA”). Section 2(1) lists out the maritime claims upon which admiralty in rem proceedings can be instituted which include claims in relation to goods and services provided to a vessel,
Blog
Companies may be wound up in accordance with the provisions of the Companies Act and the Companies Winding up Rues. Winding up of a company may be either by court, voluntarily, or subject to the supervision of Court. Winding up by Court – A company may be wound up by Court,