Colombo Port City Economic Commission Act 2021 · As enacted · Part VI
Section 37
Official English translation. The Sinhala text prevails. Open the official Sinhala text, official PDF on documents.gov.lk
Official translationFrom Department of Government Printing, unchanged
Authorised person may apply to engage in business in Sri Lanka with a citizen of Sri Lanka or resident of Sri Lanka, doing business in Sri Lanka outside the area of Authority of the Colombo Port City
An authorised person may, subject to the applicability of all written laws for the time being in force and regulations which may be made hereunder, in the national interest and in order to safeguard the interest of the domestic economy, apply to the Commission for an authorisation to engage in business in Sri Lanka, with a citizen of Sri Lanka or a resident, who is engaged in business in Sri Lanka outside the Area of Authority of the Colombo
Port City.
The Commission having considered such request, may in the national interest or in the advancement of the national economy, and while ensuring the interest of the domestic economy, issue such an authorisation in such manner and subject to such conditions as shall be prescribed.
Where the Commission issues an authorization to an authorized person under subsection (1) to engage in business with a citizen of Sri Lanka or a resident who is engaged in business in Sri Lanka outside the Area of Authority of the
Colombo Port City, such authorized person shall not be entitled to claim or receive any exemptions or incentives as provided for in Part IX of this Act or under any other Part of this Act, in relation to engaging in business in Sri Lanka with a citizen of Sri Lanka or a resident outside Area of the
Authority of the Colombo Port City.
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