Securities Exchange Bill to be tabled in Parliament

Wednesday, 25 October 2017 - 17:00


The Cabinet has granted approval for the Securities Exchange Bill to be published in the gazette and tabled in Parliament.

The new bill will replace the Securities and Exchange Commission Act No. 36 of 1987.

Once passed in Parliament, the new act will strengthen the independence of the Securities Exchange Commission with a stringent governance structure.

Considering the regulatory principals and standards in developed countries, the relevant bill has been prepared, the Government said.

Meanwhile, the Ministry of Ports and Shipping has proposed to improve the terminal management software system of Sri Lanka Ports Authority.

Accordingly, Cabinet approved a proposal by Minister Mahinda Samarasinghe to appoint a technical evaluation committee and a Cabinet Appointed Procurement Committee.

The system will be updated to face the competition with other ports in the region.

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