48. Establishment of Invest Sri Lanka

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

(1)

The Economic Commission shall establish an entity which shall be called the “Invest Sri Lanka” to be incorporated under the Companies Act, No. 07 of 2007.

(2)

The Invest Sri Lanka shall be governed by a Board of

Directors (hereinafter referred to as the “Invest SL Board”)

consisting of not less than three and not more than five members appointed by the Economic Commission.

(3)

The Chairperson of the Invest SL Board shall be appointed by the Economic Commission from amongst the members of the Invest SL Board.

(4)

(a)

The Chief Executive Officer of Invest Sri Lanka shall be appointed by the Economic Commission who also shall be the Accounting Officer.

(b)

The day-to-day management of Invest Sri Lanka shall be vested in the Chief Executive Officer and the Chief

Executive Officer shall be responsible for implementing policies and programs and for managing staff and resources.

The qualifications, remuneration, allowances and terms and conditions of employment of the Chief Executive Officer shall be as may be decided by the Invest SL Board from time to time.

(5)

All expenses including salaries of the staff of Invest

Sri Lanka shall be allocated by the Economic Commission.

(6)

The Minister may, on the recommendation of the

Economic Commission, make regulations as may be necessary from time to time to supplement the operational procedures for Invest Sri Lanka.

Read on from s 49

Part III

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Part IV

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Part V

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Part VI

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Part VII

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