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As enacted
Contents

Part V · The Director-General and the Staff of the Commission

24. Appointment of the Director-General of the Commission

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

(1)

The Commission shall, in consultation with and with the approval of the President, appoint a suitable person, possessing such qualifications and experience and local or international exposure to be the Director-General of the

Commission (in this Act referred to as the “Director-General”).

(2)

The Director-General shall be the Chief Executive

Officer of the Commission.

(3)

The Director-General shall be appointed for a term of three years from the date of appointment on such terms and conditions as may be determined by the Commission in consultation with and with the approval of the President.

The Director-General shall be eligible for reappointment unless removed from office in terms of subsection (6) of this section.

(4)

The Director-General shall, subject to the general direction and control of the Commission, be responsible for the conduct of all affairs of the Commission.

(5)

The Director-General shall be paid such remuneration as may be determined by the Commission, in consultation with the President.

(6)

The Commission may, in consultation with and with the approval of the President, for reasons assigned, remove the Director-General from office.

(7)

The Director-General may resign from his office by a written communication in that regard addressed to the

Commission and to the President, and such resignation shall take effect on it being accepted by the President.

(8)

The provisions of subsection (3) of section 9 shall mutatis mutandis, apply in relation to the removal of the

Director-General.

Part VI

Part VII

Offshore Companies to Operate Within the Area of Authority of the Colombo Port City

Part VIII

Offshore Banking Business in and from the Area of Authority of the Colombo Port City

Part IX

Determination and Grant of Exemptions or Incentives for the Promotion of Businesses of Strategic Importance

Part X

Applicability of the Condominium Management Authority Law and the Apartment Ownership Law

Part XI

Applicability of the Securities and Exchange Commission Act

Part XII

Estate Manager and Provision of General Services

Part XIII

International Commercial Dispute Resolution Centre

Part XIV

Priority in Hearing Legal Proceedings

Part XV

Interim Provisions and Investment Protection

Part XVI

Miscellaneous Provisions

Schedules