15. Amendment of section 20 of the principal enactment

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

Section 20 of the principal enactment is hereby amended as follows: -

(1)

by the repeal of subsection (3) of that section and the substitution therefor, of the following subsection: -

“(3) (a) Only a limited company incorporated under the Companies Act,

No. 07 of 2007 in which the Government of

Sri Lanka holds -

(i)

one hundred per centum of its shares shall be eligible to apply for the issue of the national system operator licence;

Act, No. 14 of 2025

(ii)

one hundred per centum of its shares shall be eligible to apply for the issue of the national transmission network service provider licence.

(b)

For the avoidance of doubt, it is hereby stated that –

(i)

there shall be only one national system operator licence; and

(ii)

there shall be only one national transmission network service provider licence, granted under this Act.”;

(2)

in subsection (5) of that section, by the substitution for the words “any person,”, of the words and figures “any company incorporated under the Companies Act, No. 07 of 2007,”; and

(3)

by the repeal of subsection (6) of that section and the substitution therefor, of the following subsections: -

“(6) (a) A holder of a generation licence, other than the Government of Sri Lanka, who holds more than five per centum of shares of a single company, directly or indirectly, shall not be issued a distribution licence.

Act, No. 14 of 2025

(b)

A holder of a distribution licence, other than the Government of Sri Lanka, who holds more than five per centum of shares of a single company, directly or indirectly, shall not be issued a generation licence.

(c)

A person, other than the Government of Sri Lanka, who holds more than five per centum of shares of a single company, directly or indirectly, shall not be issued more than one distribution licence.

(d)

Any person or company other than the Government of Sri Lanka shall not simultaneously hold, directly or indirectly, more than five per centum of the shares of two companies issued with a combination of the following licences: -

(i)

a generation licence and a distribution licence; or

(ii)

more than one distribution licence.”.

Read on from s 16