Following are the decisions taken by the Cabinet of Ministers on October 10, 2023
Empowering Micro-Finance and Loan Regulation Authority Act.
Approval of the Cabinet of Ministers has been granted at their meeting held on March 23, 2021 to empower the Micro-Finance and Loan Regulation Authority Act by repealing the Micro-Finance Act No. 6 of 2016.
The clearance of the Attorney General has been granted for the relevant draft Bill prepared by the Legal Draftsman as well. Therefore, the approval of the Cabinet of Ministers has been granted for the resolution furnished by the President in his capacity as the Finance, Economic Stabilization and National Policies Minister to publish the draft Bill in the government gazette notification and thereby table the same in the Parliament for its concurrence.
Draft bill named ‘Surakshithalath Ganudenu’
Approval of the Cabinet of Ministers was granted at their meeting held on May 28, 2019 to introduce a new Act imposing provisions to establish the Secured Transactions Registration Authority by repealing the Secured Transactions Act No. 49 of 2009 and to amend the following Acts parallel to it: Prescription (Amended) Bill, Trust Receipts (Amended) Bill, Mortgage (Amended) Bill, Lease Financing (Amended) Bill, Inland Trust Receipts (Amended) Bill, Companies (Amended) Bill and Document Registration (Amended) Bill.
Accordingly, directions have been given to the Secretary to the Finance, Economic Stabilization and National Policies Ministry at the meeting of the Cabinet of Ministers held on May 3, 2021 to further study the draft Bill prepared by the Legal Draftsman with the relevant authorities. The relevant draft Bills have been updated by the Legal Draftsman and the clearance of the Attorney General has been obtained as well.
Therefore, the approval of the Cabinet of Ministers has been granted for the resolution furnished by the President in his capacity as the Finance, Economic Stabilization and National Policies Minister to publish the aforementioned draft Bills in the government gazette and thereby table the same in the Parliament for its concurrence.
MoU between Investment Promotion Ministry and National Development and Reformation Commission of China
Concurrence between the parties has been given to enter into a Memorandum of Understanding to promote production capacity and investment cooperation between the National Development and Reformation Commission of China and the Investment Promotion Ministry. Accordingly, the Cabinet of Ministers has granted approval for the resolution furnished by the President in his capacity as the Investment Promotion Minister to sign the Memorandum of Understanding.
Draft Bill of National Hydrology
Directions have been given at the meeting of the Cabinet of Ministers held on May 8, 2023 to instruct the Legal Draftsman to draft a Bill to impose regulations required for the development of the oceanic hydrology sector with the objective of upgrading Sri Lanka as the oceanic centre in the South Asian region.
Accordingly, the clearance of the Attorney General has been granted to the draft Bill prepared by the Legal Draftsman. Therefore, the approval of the Cabinet of Ministers has been granted for the joint resolution furnished by the President in his capacity as the Defence Minister joined with the Justice, Prison Affairs and Constitutional Reforms Minister to publish the draft Bill in the government gazette and thereby table the same in the Parliament for its concurrence.
Development of Hathbodhiyawatta in Narahenpita
There is a low-facility settlement on the government owned land of one acre, three rood and 10 perches called Hathbodhiyawatta in Narahenpita in the Kirula Grama Niladhari Division.
The houses in this settlement are constantly exposed to disasters during the rainy season. It has been proposed to provide alternative housing for the families of the settlement in the housing schemes constructed under the Urban Revitalization Project by the Urban Development Authority.
Accordingly the Cabinet of Ministers approved the proposal presented by the Urban Development Minister to provide houses in the housing schemes built in Colombo city under the urban development project to the residents of the said land and then, to transfer the said land to the Urban Development Authority under Section 6(1) of the State Land Ordinance for the implementation of a mixed development project.
Sale of housing units in Lake Crest Residences in Mandavila
The Lake Crest Residences housing project in Mandavila, Angoda, implemented by the Urban Development Authority and consisting of 500 housing units, has been handed over to the beneficiaries in 2018. Accordingly the Cabinet of Ministers approved the proposal presented by the Urban Development Minister to give freehold deeds according to the Condominium Law to the residents who have settled all the payments related to the said house units and in the case of the residents who have not done so, to give freehold deeds after they have completed the relevant payments.
Preparation of the National Land Commission Act
In the 13th Constitutional Amendment, Schedule 9, List 1, Appendix II, provides for the establishment of a Land Commission. Accordingly, the Cabinet of Ministers approved the proposal presented by the Tourism and Lands Minister to advise the Legal Draftsman to prepare a Bill based on the preliminary draft prepared for that purpose.
Extension of project to survey plantation lands
The project of surveying the plantation lands which are administrated by the local plantation companies, State Plantation Corporation of Sri Lanka and Janatha Estate Development Board and preparing boundary maps was started in 2018. By now, the survey work has been completed covering a significant number of lands. Accordingly the Cabinet of Ministers approved the proposal presented by the Plantations Minister to extend the project till 2027 so as to be able to carry out survey work to cover the remaining lands as well.
Extension of marketing and investment agreement between SL and Australia
Australia is one of the important direct overseas investment stakeholders of Sri Lanka while being the fifth source of tourist destinations. A marketing and investment framework agreement has been signed between Sri Lanka and Australia on November 2, 2017 with the vision of promoting bilateral marketing and investment between the two countries.
The Cabinet of Ministers has agreed to the proposal submitted by the Trade, Commerce and Food Security Minister to extend the agreement for another five years from October 10, 2023 so that the marketing and investment cooperation can be continued uninterrupted as mentioned in the agreement.
