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1) 拟议名字的批准-公司拟议的名字必须填写名字搜索表格并经企业监管局（ROC）的批准 (Approval of the Proposed Name – The proposed name of the company must be approved by the Registrar of Companies (ROC) by filing a name search form.) 在法律的适用范围内，没有有关部长的批准，一些如“斯里兰卡”“州”“国家”“社会”“联营”“市政”“股份有限的”“总统”和“总统有关”的词汇不能用于公司的拟议名字 (In terms of the applicable law,
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In terms of the recent, Revocation of Irrevocable Deeds of Gift on the Ground of Gross Ingratitude Act No. 5 of 2017, an irrevocable deed of gift may now be revoked on the ground on gross ingratitude by an order of a competent court. Legal action instituted for the revocation
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(Court Decision in MV Thermopylae Sierra Case) The Admiralty High Court of Sri Lanka, delivered a landmark order in the MV Thermopylae Sierra Case. This order sheds clarity on the scope of the in rem jurisdiction under Admiralty Law in Sri Lanka. The Plaintiff in this case, Scarlet Shipping Company
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Published on Thomson Reuters PRACTICAL LAW A Q&A guide to doing business in Sri Lanka. This Q&A gives an overview of key recent developments affecting doing business in Sri Lanka as well as an introduction to the legal system; foreign investment, including restrictions, currency regulations and
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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
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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
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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
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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
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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
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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,
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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,