Press briefing of Cabinet Decision taken on 2018-04-03

Amendments to the Companies Act, No.7 of 2007

- It has been found that certain amendments have to be made to the existing Companies Act, No.7 of 2007 to maintain the Business Index of Sri Lanka on a high level with a view to promoting the investment activities of Sri Lanka. Accordingly, the proposal made by Hon. Rishad Bathiudeen, the Minister of Industry and Commerce, to amend sections 5, 9 and 10 of the Companies Act No.7 of 2007 to enable the Registrar of companies to notify the general public regarding the incorporation of a new company providing certain information of the relevant company and to eliminate publishing a public notice regarding the incorporation of a new company, and to empower the Registrar of companies to make order for any company to change the name of the company, was approved by the Cabinet.