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On 26th October 2021, the Registrar General of Companies announced that the Ministry of Finance proposes to amend the Foreign Exchange (Classes of Capital Transactions Undertaken in Sri Lanka by a Person Resident Outside Sri Lanka) Regulations No. 2 of 2021 (“Fx Regulations”) to mandate a minimum investment threshold of
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<p>Presently, Sri Lankan law does not provide for a minimum retirement age that is applicable to the private sector. The first of its kind, the ‘Minimum Retirement Age of Workers Bill 2021’ (“Bill”) has been presented to Parliament.</p> The said Bill has proposed that
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The prevailing labour laws and industrial relations provide for various types of disciplinary measures an employer is permitted to take in Sri Lanka (e.g. dismissal, suspension without pay, demotion transfer stoppage of increment, deferment of increment, reduction of bonus, warning, fine), in the event an employee commits an offence/
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‘A woman, a dog, and a walnut tree, the more you beat ’em, the better they be’ - The Sri Lankan legal framework for prevention of domestic violence and abuse, a crisis in the age of the pandemic: The Legal framework in Sri Lanka for the prevention of and punishment
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A woman, a dog, and a walnut tree, the more you beat ’em, the better they be’ - The Sri Lankan legal framework for prevention of domestic violence and abuse, a crisis in the age of the pandemic: The United Nations provides that - ‘Domestic abuse or "domestic violence&
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<p>The following measures have been announced by the Government as at 01.07.2021.</p> Banking and Finance: The Monetary Board of the Central Bank of Sri Lanka [CBSL] by Circular No.4/2020 dated 24.03.2020 has directed Financial Institutions (i.e. Licensed
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Rules Governing Virtual Hearings The Court of Appeal (Electronic filing and urgent digital virtual hearings) (Special Provisions) Rules, 2021 was published in the Extraordinary Gazette 2216/08 dated 23rd February 2021. The Rules empower the Court of Appeal to hold digital virtual hearings as an interim measure to address difficulties
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D. L. & F. De Saram is proud to announce the publishing of its Construction and projects in Sri Lanka: an overview in collaboration with Thomson Reuters Practical Law. The Q&A is part of the global guide to construction and projects. Areas covered include trends and significant deals,
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The Colombo Port City Economic Commission Bill (“Bill”) published in the Gazette Notification dated 24.03.2021 was passed in Parliament on 20.05.2021 with the amendments proposed by the Supreme Court. The Bill provides for the (i) establishment of the Colombo Port City as a Special Economic Zone
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A divorce can be obtained in Sri Lanka on establishing one of the following grounds (Matrimonial faults) in Court: 1. Adultery subsequent to marriage 2.Malicious Desertion (where the party at fault leaves the Matrimonial home) or Constructive Malicious Desertion (where the innocent party is compelled to leave the matrimonial
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The Ministry of Finance issued circular No. MF/01/2020 dated 08.03.2021 (“Circular”) to fast-track implementation of development activities. The salient points of the Circular are as follows: 1. A simplified process for obtaining Letters of Credit/Letters of Comfort and Letters of Guarantee. 1. * The Cabinet of
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<p>The Ministry of Finance issued a series of regulations repealing the regulations issued under the Extraordinary Gazette Notification 2045/56 dated 17.11.2017 (“<b>Repealed Regulations</b>”). The new Foreign Exchange (Classes of Capital Transactions Undertaken in Sri Lanka by a Person