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Contents

Part II

46. Special powers of the Economic Commission for expediting approvals

Official English translation. The Sinhala text prevails. Open the official Sinhala text, official PDF on documents.gov.lk

(1)

Where an investor that applies to the Economic

Commission or an investment registered with the Economic

Commission requires any approvals, authorizations or permits from Ministries, Government departments, agencies, corporations, regulatory authorities or bodies named by the

Cabinet of Ministers on the recommendation of the Minister and prescribed by regulations made under this Part

(hereinafter referred to as “Specified Institutions”) the

Economic Commission shall be empowered to facilitate the procurement of such approvals, authorizations or permits.

(2)

Where the Economic Commission makes an inquiry or request to any Specified Institution for an approval, authorization, or permit in terms of subsection (1), such

Specified Institution shall be obliged to respond to such inquiry or request either consenting to or objecting to such inquiry or request within fifteen days of such inquiry or request being made. If the Specified Institution refuses to respond to such inquiry or denies such request, written reasons for such refusal or denial shall be provided in writing within such period of twenty one days of such inquiry or request.

(3)

All Specified Institutions shall be required to collaborate with the Economic Commission to enable it to perform its functions and meet its objects.

(4)

The Minister may, by regulations made under this

Part, prescribe procedures for such collaboration, which shall be complied with by Specified Institutions in line with standing operating procedures on granting approvals for investment projects formulated by the Economic Commission through a consultative process.

(5)

If a Specified Institution refuses, denies or fails to respond to an inquiry or request as per the regulations made under subsection (1) or (4), the Economic Commission shall if deemed appropriate, refer such refusal, denial or failure to the Minister forthwith, who shall, within two weeeks refer the matter to the Cabinet of Ministers for appropriate action.