Companies Act No. 07

Sri Lanka

(enacted in 2007)

Companies Act No. 07 of 2007 governs the creation, activities, and dissolution of corporations in Sri Lanka.  According to the Finance Act No. 78 of 1988, finance companies must be incorporated and registered under the Companies Act.

This law is organized as follows:

  • Incorporation of companies and related matters;
  • Private companies;
  • Companies limited by guarantee;
  • Shares and debentures;
  • Shareholders and their rights and obligations;
  • Registration of charges;
  • Management and administration;
  • Amalgamations;
  • Compromises with creditors;
  • Approval of arrangements, amalgamations and compromises by court;
  • Provisions relating to offshore companies;
  • Winding up;
  • Administrators;
  • Floating charges;
  • Receivers and managers;
  • Registrar-general of companies and registration;
  • Application of act to existing companies;
  • Overseas companies;
  • Advisory commission;
  • Companies disputes board;
  • Offences;
  • Miscellaneous; and
  • Repeals and amendments.