Press briefing of Cabinet Decision taken on 2018-09-04

Amending the Companies Act, No.7 of 2007

- The Government has focused its attention to amend the Companies Act, No.7 of 2007, considering the present trends and the requirements. Accordingly, the proposal made by Hon. Rishad Bathiudeen, the Minister of Industry and Commerce, to publish the amendments made to sections 5, 9 and 10 of the Act in the Government Gazette enabling the Registrar of Companies to notify the general public on the incorporation of a new Company and to direct a Company to change its name in order to achieve a higher grading in the Ease of Business Index of the World Bank for Sri Lanka and to present the same, thereafter, in Parliament for approval, was approved by the Cabinet.