Press briefing of Cabinet Decision taken on 2022-02-07

Investment Disputes High Court Act

- The Minister of Justice has instructed the Commercial Law Reforms Sub‑Committee appointed under the Special Unit of the Ministry of Justice to submit recommendations on the legal reforms to be made to create a legal environment in Sri Lanka which is conducive to investment. Accordingly, the said committee has proposed to establish an Investment Disputes High Court with a judicial power to hear and give verdicts relating to the cases of 'disputes' within the financial limits of Rs.50 million which may arise from an initial investment of Rs.100 million or more. Therefore. the the proposal made by the Minister of Justice to instruct the Legal Draftsman to draft a bill for the purpose, incorporating relevant provisions, was approved by the Cabinet.