Colombo Stock Exchange to be turned into limited stock company
April 10, 2019 02:09 pm
The Cabinet of Ministers has approved a proposal pertaining to the transformation of the Colombo Stock Exchange (CSE) into a Limited Stock Company.
The government said that attention had been drawn to transform the Colombo Stock Exchange, which is currently a non-profit organization managed by the members to profit oriented shareholders Company.
Accordingly the Cabinet of Ministers approved the proposal presented by Minister of Finance and Mass Media Mangala Samaraweera to amend the bill that was drafted to change legal status of the Colombo Stock Exchange.
The Cabinet of Ministers has also approved the proposal presented by Minister Samaraweera to revise the new bill drafted to update present Securities Exchange Act with new amendments.
Meanwhile the Cabinet of Ministers approved the proposal presented by Minister of Telecommunication, Foreign Employment and Sports Harin Fernando to make necessary amendments to update the Sports Act No.25 of 1973.
