Cabinet has approved a proposal for the amendment of the Companies Act no 7 of 2007, in order to avoid money laundering and funding of terrorism. According to the government news portal, the government today said that it had identified the necessity of rapid legal amendments to avoid Money Laundering and Funding of Terrorism.
“Therefore it has been decided to make necessary amendments to the Companies act No.7 of 2007 to collect the details on shareholders who have more than 25% of company ownership of a company (excluding Limited Public Companies) or beneficiaries those who have active control of such company.”
Acting Minister of Industry and Commerce Champika Premadasa was named as the proponent of the said cabinet paper.
You can share this post!
Content
The Ceylon Petroleum Corporation (CPC) will reduce fuel prices with effect from midnight today.
Dr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka, has cautioned that reversing the current economic programme could lead to a resurgence of the severe economic and social crisis Sri Lanka endured nearly two years ago.
President Ranil Wickremesinghe today inaugurated the open cycle phase of the “Sobadhanavi” 350 MW Combined Cycle Power Plant in Kerawalapitiya, the President’s Media Division (PMD) said.
Leave Comments