Economic Transformation Act 2024 · As enacted · Part III
90. Special Powers of the Zones SL for expediting approvals
Official English translation. The Sinhala text prevails.
Official translationFrom Department of Government Printing, unchanged
Where an investor that applies to the Zones SL for setting up of an investment within an investment promotion zone requires any approvals, authorizations or permits from
Ministries, Government departments, agencies, Zones SL, regulatory authorities or bodies named by the Cabinet of
Ministers on the recommendation of the Minister and prescribed by regulation made under this Part (hereinafter referred to as the “Specified Institutions”) the Zones SL shall be empowered to facilitate the procurement of such approvals, authorizations or permits.
Where the Zones SL 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.
All Specified Institutions shall be required to collaborate with the Zones SL to enable it to perform its functions and meet its objects.
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 Zones SL through a consultative process.
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 Zones SL shall if deemed appropriate, refer such refusal, denial or failure to the Minister forthwith, who shall, within two weeks refer the mater to the
Cabinet of Ministers for appropriate action.