The Gambling Regulatory Authority Bill was passed in Parliament with amendments a short while ago.
The Second Reading Debate of the Gambling Regulatory Authority Bill took place in Parliament today (19).
The draft bill to establish a Gambling Regulatory Authority was gazetted under the directives of President Anura Kumara Dissanayake, in his capacity as the Minister of Finance, Planning and Economic Development, in May.
The Bill has been drafted to grant provisions for the establishment of the Gambling Regulatory Authority, to repeal the Horse Racing Betting Ordinance, the Gambling Ordinance, and the Casino Ordinance, and to make provisions for related matters.
Once endorsed by the Speaker of Parliament, the draft bill will come into effect as the Gambling Regulatory Authority Act.
The Gambling Regulatory Authority will be established as an independent body with a broad and comprehensive mandate. It will be tasked with implementing several key proposals, including the collection of gambling-related revenue, ensuring transparency and good governance in gambling operations, and preventing illegal gambling activities.
The Bill to establish the Gambling Regulatory Authority had received the approval of the Committee on Public Finance on August 12.
The Bill was discussed on several occasions in the Committee on Public Finance, and it provides for the establishment of the Gambling Regulatory Authority as an independent regulatory body with a broad scope to standardise betting and gaming establishments in Sri Lanka, minimise social harm, develop the tourism sector and grow the economy.
