Sitting of Wednesday, 23 July 2025
Source: Hansard PDF (parliament.lk) ↗ ·No. 1754386160089643 ·English daily/uncorrected Hansard
Order of business
Speeches load per item. Summaries shown here are AI-generated and labelled; verbatim text is on each speech page.
- 1 Opening Opening: Parliament Convened 1 speeches
- 2 Papers Papers: Annual Reports and Performance Reports 6 speeches
- 3 Petitions Petitions: Various Citizens' Petitions Presented 3 speeches
- 4 Papers Papers: Additional Reports Tabled 2 speeches
- 5 Oral question Oral Question: Reservoirs and Tank Management (Q.3/2025 – 794/2025) 7 speeches
- 6 Oral question Oral Question: Security at Temple of the Tooth Relic and Road Closure 15 speeches
- 7 Procedural Procedural: Points of Order and Interjections on Historical Matters 9 speeches
- 8 Oral question Oral Question: Export of Rock Phosphate (Q.5/2025 – 857/2025) 38 speeches
- 9 Oral question Oral Question: Tourism Zones in Matara District (Q.6/2025 – 866/2025) 7 speeches
- 10 Oral question Oral Question: Transfer of LRC Lands to Private Individuals (Q.7/2025 – 869/2025) 6 speeches
- 11 Oral question Oral Question: Sea Erosion in Puttalam District (Q.9/2025 – 956/2025) 6 speeches
- 12 Oral question Oral Question: Grant of LRC Lands for Factory Establishment (Q.10/2025 – 997/2025) 6 speeches
- 13 Oral question Oral Question: Second Round Questions (Q.1, 2, 3/2025 – Second Round) 7 speeches
- 14 Procedural Procedural: Standing Order 27(2) Questions – Sri Lanka Electricity Bill Scheduling 11 speeches
- 15 Procedural Procedural: Standing Order 27(2) – Simplified VAT (SVAT) Abolition 4 speeches
- 16 Procedural Procedural: Standing Order 27(2) – Kankesanthurai Port Renovation Delay 9 speeches
- 17 Procedural Ministerial Statement: Government Policies on Paddy Purchase and Rice Import 7 speeches
- 18 Procedural Procedural: Kodhagoda Gunarathana Nahimi Foundation Bill – First Reading 3 speeches
- 19 Debate Debate: Companies (Amendment) Bill – Second Reading 94 speeches
- The Hon. Deputy Speaker procedural
- The Hon. Wasantha Samarasinghe - Minister of Trade, Commerce, Food Security and Co-operative Development JJB
AI summary Moved the Second Reading of amendments to the Companies Act to introduce beneficial ownership requirements, citing fraud, shell companies, money laundering risks, and Sri Lanka’s obligations under FATF Recommendation 24. He said the Registrar of Companies would be empowered to obtain and maintain records identifying the natural persons who ultimately own or control all types of companies, with companies required to submit this information within six months of enactment. He argued that the reforms are needed to avoid future FATF grey-listing or blacklisting and to improve transparency over assets, share acquisitions, sources of funds, and tax compliance.
- The Hon. Kabir Hashim SJB
AI summary Kabir Hashim asked the Minister whether the Bill had been amended to incorporate the Supreme Court’s direction that certain definitions align more fully with FATF standards. He also sought clarification on whether the Central Bank’s FIU compliance observations and the Attorney-General’s input had been addressed.
Law & Order Full speech → - The Hon. Wasantha Samarasinghe JJB
AI summary Wasantha Samarasinghe stated that observations from the Court on the petition filed against the Bill had been incorporated. He said concerns on personal data protection were addressed through compliance with the Personal Data Protection Act, and that the Bill allowed access to information through properly routed RTI requests with safeguards.
Justice & Human Rights Full speech → - The Hon. Kabir Hashim SJB
AI summary Hon. Kabir Hashim asked whether, beyond the Right to Information framework, the Government intends to establish a separate platform for accessing beneficial ownership information. The question sought clarification on the mechanism for public or institutional access to such data.
- The Hon. Wasantha Samarasinghe JJB
AI summary The Hon. Wasantha Samarasinghe stated that personal data is governed by separate data protection legislation and cannot be disclosed unlawfully. He noted that beneficial ownership information may be obtained where legally permitted, including through Right to Information requests to the Registrar of Companies, subject to compliance with the data protection framework.
- The Hon. Deputy Speaker procedural
- The Hon. Wasantha Samarasinghe JJB
AI summary Wasantha Samarasinghe stated that questions from another Member could be raised during the debate and would be answered then. He said measures concerning offshore incorporations in jurisdictions such as the British Virgin Islands and US Virgin Islands would improve transparency regarding their use by Sri Lankans, and noted that investigations were ongoing.
- The Hon. Deputy Speaker procedural
- The Hon. Wasantha Samarasinghe JJB
AI summary Foreign companies registering in Sri Lanka would be required to make beneficial ownership disclosures to the Registrar of Companies in line with FATF standards and regional practice. Wasantha Samarasinghe said delays since 2017 reflected reluctance to ensure transparency, and argued that the amendments would prevent individuals using proxies or unexplained wealth to acquire major stakes without declaring funding sources and taxes paid.
- The Hon. Deputy Speaker procedural
- The Hon. Wasantha Samarasinghe JJB
AI summary Wasantha Samarasinghe stated that the amendment would strengthen Sri Lanka’s anti-money laundering and counter-terrorist and proliferation financing framework, in line with FATF recommendations and its APG obligations. He said it would help prevent asset concealment and laundering through companies, and requested support from all Members for its passage.
- The Hon. Deputy Speaker procedural
- The Hon. Sajith Premadasa - Leader of the Opposition SJB
AI summary While supporting corporate accountability measures, Sajith Premadasa raised concerns about alleged abuse involving land used by about 1,000 farming families in Trincomalee and Kaddaiparichchan since 1972. He said court action and eviction orders since 2024-2025 are being used to remove cultivators from about 800 acres, despite their long-term use of the land and receipt of fertilizer subsidies and cultivation loans. He objected to evictions reportedly linked to a proposed 200-acre solar power project, stating that renewable energy should not come at the expense of long-standing farmers.
- Hon. Sajith Premadasa - Leader of the Opposition SJB
AI summary Hon. Sajith Premadasa raised concerns over the eviction of around 1,000 farming families in Trincomalee from 800 acres cultivated since 1972, alleging the lands were handed to solar power ventures without due process and that farmers were intimidated through legal and police action. He requested compensation, permits for remaining lands or alternative fertile land, and an immediate halt to the expropriation, while clarifying that he was not opposing renewable energy. He tabled documents, newspaper reports and photographs, and urged Government MPs and authorities to provide solutions for residents of Taharavettuvan, Maththiyaveli and Muththunagar. He also began raising concerns from traders at the Thambuttegama Economic Centre about the management of economic centres, asking Minister Wasantha Samarasinghe to address them.
- Hon. Wasantha Samarasinghe JJB
AI summary Wasantha Samarasinghe challenged the Opposition to identify when and by whom disputed lands were granted to companies, arguing that earlier governments had allocated them on maps despite long-standing cultivation by farmers and that the current process is constrained by court orders. He said the Government is seeking solutions for affected families, including in the Trincomalee dispute, where he attributed the origins to a previous administration and stated that farmers living there for decades should be protected and compensated if necessary. He also addressed economic centres, saying many of the 18 centres suffer from irregularities, unclear leases, and past payments taken for stalls, and urged the Opposition to read the relevant Cabinet paper before raising questions. He added that proposed Companies Act amendments on beneficial ownership are intended to address theft, black money, and misappropriated assets, not to impose arbitrary limits on companies.
- An Hon. Member
AI summary A Member briefly responded to a prior reference by noting that another Member was also in Parliament at the relevant time. The exchange was acknowledged by a nod, and the related material was ordered to be placed in the Library.
Parliamentary Procedure Full speech → - Hon. Sajith Premadasa - Leader of the Opposition SJB
AI summary Sajith Premadasa urged the Government to respond calmly to an issue he was raising, asking that members not become agitated or shout during the exchange. He called for concrete solutions and answers rather than disorder in the Chamber.
Parliamentary Procedure Full speech → - Hon. Gayantha Karunathilleka SJB
AI summary Hon. Gayantha Karunathilleka briefly characterized the matter as “village work” during an interruption. No specific policy position, proposal, or question was articulated in the recorded remark.
Parliamentary Procedure Full speech → - The Hon. Deputy Speaker procedural
- Hon. Sajith Premadasa - Leader of the Opposition SJB
AI summary Hon. Sajith Premadasa raised concerns regarding the proposed 33-year lease of the Thambuttegama Economic Centre, including permission for sub-leasing, and the possible transfer of state assets to a private company. He said farmers and traders fear that assets developed over 22 years, within a wider network of 13–14 economic centres valued at about Rs. 6 billion, may be handed over without proper stakeholder consultation. He requested the Minister to clarify the Cabinet decision and provide assurances to affected farmers and traders.
- Hon. Wasantha Samarasinghe JJB
AI summary Hon. Wasantha Samarasinghe briefly referred to the existence of fourteen economic centres. No further argument, proposal, or question is provided in the excerpt.
Infrastructure Full speech → - Hon. Sajith Premadasa - Leader of the Opposition SJB
AI summary Hon. Sajith Premadasa raised concerns over the proposed 33-year lease of state-owned assets and lands in Thambuttegama to a private company, including provisions allowing sub-leasing. He requested that all stakeholders be consulted and that the process be conducted transparently, stating that the issue was raised in good faith to obtain answers and solutions.
- Hon. Wasantha Samarasinghe JJB
AI summary Hon. Wasantha Samarasinghe criticised the Leader of the Opposition for raising questions without, in his view, having read the relevant Cabinet paper. He said the Cabinet proposal concerning economic centres was intended to regularize operations and protect stallholders amid disorder, missing lease agreements, and fragmented administration across ministries. He also stated that proposed beneficial ownership amendments to the Companies Act target theft, black money, and misappropriated assets, not legitimate companies. On Trincomalee, he said disputes involving the Port, companies, and farmers stem from earlier decisions and that the Government intends to protect farmers and provide compensation where injustice has occurred.
- The Hon. Deputy Speaker procedural
- Hon. Sarath Kumara, Attorney-at-Law JJB
AI summary Hon. Sarath Kumara supported the Companies (Amendment) Bill, stating that it implements FATF Recommendation 24 by requiring disclosure of companies’ ultimate beneficial owners to improve transparency and prevent money laundering and terrorism financing. He highlighted provisions requiring company secretaries to confirm beneficial ownership within two months and report to the Registrar of Companies within six months. He argued that the amendments would reduce the space for criminally motivated investments and invited Opposition Members to support efforts to strengthen the rule of law.
- Hon. Ajith P. Perera SJB
AI summary Hon. Ajith P. Perera raised a Point of Order. No further substantive argument, proposal, or question was recorded in the provided excerpt.
Parliamentary Procedure Full speech → - The Hon. Deputy Speaker procedural
- Hon. Ajith P. Perera SJB
AI summary Hon. Ajith P. Perera raised a procedural concern that the Registrar of Companies’ website had reportedly been malfunctioning for 10 days. He said this was obstructing legal practitioners and others from obtaining information and carrying out company registrations, and urged the Deputy Speaker and the House to take note of the issue as a matter affecting access to official services and information.
- The Hon. Deputy Speaker procedural
- Hon. Chanaka Madugoda SLPP
AI summary Hon. Chanaka Madugoda stated his party’s support for the Companies (Amendment) Bill and urged that companies be allowed to operate without unnecessary obstruction. He raised several constituency and sectoral concerns, including the exclusion of a major Western Province three-wheeler association from consultations, alleged politicisation of youth society appointments, and the need for regulated modernization of beach-seine fishing through winch permits. He also requested restoration of decentralized budget allocations to Opposition MPs and improvements to Parliament gallery facilities, particularly toilets used by visiting schoolchildren.
- The Hon. Deputy Speaker procedural
- The Hon. Deputy Chairperson of Committees procedural
- Hon. Arun Hemachandra - Deputy Minister of Foreign Affairs and Foreign Employment JJB
AI summary Hon. Arun Hemachandra supported the Companies (Amendment) Bill, stating that it would strengthen transparency, curb shell companies, improve tender integrity, and align Sri Lanka with FATF requirements and the 2023 IMF programme. He linked the reforms to past procurement scandals, alleged misuse of charitable foundations and companies, and the need to empower institutions such as the Registrar of Companies, CIABOC and the FIU. Responding to the Opposition Leader, he also addressed land issues in Muththunagar, Trincomalee, saying the lands had been vested in the Port Authority in 1984 and that later actions during the yahapalana period should be examined. He further referenced the anniversary of the 1983 anti-Tamil violence, stressing the Government’s commitment to national harmony and preventing recurrence.
- The Hon. Deputy Chairperson of Committees procedural
- Hon. (Prof.) Ruwan Ranasinghe - Deputy Minister of Tourism JJB
AI summary Hon. (Prof.) Ruwan Ranasinghe defended the Government’s renewable energy tariff revision, arguing that reducing the rate from 37% to 20% was intended to balance the interests of consumers, businesses and solar investors rather than harm investors. Speaking on the Companies (Amendment) Bill, he said the amendments address gaps in the 2007 law by requiring disclosure of beneficial ownership in line with FATF Recommendation 24. He argued that stronger transparency provisions are needed to curb money laundering, terrorism financing and the black economy, and called on the Opposition to support the Bill as part of efforts to promote political and economic stability.
- The Hon. Deputy Chairperson of Committees procedural
- Hon. Sivagnanam Shritharan ITAK
AI summary Hon. Sivagnanam Shritharan used the Companies (Amendment) Bill debate to mark 42 years since Black July, alleging the absence of accountability for anti-Tamil violence, prison killings, disappearances and mass graves, and referring to past reports and commissions that he said had not led to justice. He urged President Anura Kumara Dissanayake and the Government, with its parliamentary majority, to use the opportunity to pursue reconciliation by acknowledging past wrongs, addressing military occupation of Tamil memorial sites, and providing guarantees for Tamils to live with sovereignty in the North and East. He also questioned why Easter Sunday-related investigations focused on Sivanesathurai Chandrakanthan while not questioning former Defence Secretary Gotabaya Rajapaksa and others, and tabled a 2019 Reuters report.
- The Hon. Deputy Chairperson of Committees procedural
- Hon. Thanura Dissanayake JJB
AI summary Hon. Thanura Dissanayake said July 23, 1983 should be remembered as a consequence of State-backed nationalism and anti-democratic actions under past governments, including the 1981 Jaffna DDC election. He argued that earlier parties used ethnic nationalism for political advantage, while the current National People’s Power Government seeks to build national unity, political stability, and reconciliation across all regions. He said the Government is linking stability to economic development, including Rs. 5 billion in development work in the North, reopening long-closed roads and bridges, and proposed broader social efforts such as a future Sri Lankan Day to promote unity.
- The Hon. Deputy Chairperson of Committees procedural
- Hon. Hector Appuhamy SJB
AI summary Hon. Hector Appuhamy outlined the Sectoral Oversight Committee’s review of amendments to the Companies Act No. 07 of 2007, noting discussions with the Legal Draftsman’s Department, the Ministry and the Registrar of Companies on issues including money laundering, terrorism financing and IMF-required reforms. He said the amendments, including beneficial ownership disclosure and greater access to company information, aim to prevent misuse of registered entities and concealment behind fronts. He also urged the State to develop safeguards for legitimate industrialists, entrepreneurs and business operators, linking business regulation to broader concerns about personal and property security.
- The Hon. Deputy Chairperson of Committees procedural
- The Hon. Sunil Kumara Gamage - Minister of Youth Affairs and Sports JJB
AI summary Minister Sunil Kumara Gamage supported the Companies Act amendment introducing beneficial ownership disclosure, stating it would require information on directors, shareholders, beneficial owners and sources of capital to prevent fraud, money laundering and hidden unlawful interests in companies. He argued the measure aligns with the Government’s “Clean Sri Lanka” agenda and would not deter legitimate investors, but would target those unable to explain the lawful origins of their funds. He also linked the reform to improving Sri Lanka’s business environment, international benchmarks such as the World Bank’s B-READY index, and the need to improve operational efficiency in institutions including the Registrar of Companies.
- The Hon. Nimal Palihena JJB
AI summary Hon. Nimal Palihena supported the amendments to the Companies Act, No. 7 of 2007, stating that they are intended to identify ultimate beneficial owners of companies and align Sri Lanka with international standards, including FATF Recommendation 24. He argued that stronger powers for the Registrar of Companies to obtain, maintain, and refer information are needed to prevent misuse of corporate structures for money laundering, terror financing, and unclear ownership. He said mandatory filings and beneficial ownership disclosure would improve public trust, investor confidence, and orderly business regulation, and requested cooperation to pass and implement the reforms.
- The Hon. M. Nizam Kariapper, PC SJB
AI summary Hon. M. Nizam Kariapper linked the Bill’s provisions on tracing terrorism-related proceeds hidden through companies to the Easter Sunday investigations, citing the Colombo Fort Magistrate’s Court B Report in Case No. B 35882/24. He questioned why identified suspects and military intelligence officers, including those connected to the Vavunativu police killings and alleged prior intelligence on Zahran’s group, had not been questioned, arrested, or produced in court, while a civilian interpreter had been detained. He asked who was obstructing the investigation, called for scrutiny of the role and subsequent political trajectory of Maj. Gen. (Retd.) Aruna Jayasekara, and urged the Government to investigate alleged use of military authority and extremist actors for political purposes.
- The Hon. M.K.M. Aslam JJB
AI summary Hon. M.K.M. Aslam supported the Companies Act amendments, saying they address legal deficiencies and require disclosure of beneficial ownership to reduce tax evasion and misuse of companies, including in relation to terrorism financing. He linked the debate to the anniversary of the 1983 anti-Tamil pogrom, arguing that past governments diverted public anger onto minorities and recalling similar concerns after the Easter attacks. He called for national unity beyond ethnic divisions and stated that the NPP Government would protect all communities and reject racism.
Corruption & Governance ReformJustice & Human RightsEthnic Reconciliation & Devolution Full speech → - The Hon. R.M. Jayawardhana - Deputy Minister of Trade, Commerce and Food Security JJB
AI summary The Deputy Minister supported amendments to the Companies Act to strengthen company registration procedures by identifying beneficial ownership, control, and connected parties. He said the reforms address money laundering and terrorism financing risks, align Sri Lanka more fully with FATF Recommendation 24, and should improve rather than deter investment by increasing transparency and regulatory stability. He also responded to concerns about the Registrar of Companies website outage, stating it occurred during a service transition back to the Ministry, was under investigation, and had been rectified after about 10 days.
- The Hon. G.G. Ponnambalam ACTC
AI summary Hon. G.G. Ponnambalam marked Black July, alleging State complicity in the 1983 anti-Tamil violence and urging the Government to officially recognize the day as a national day of mourning rather than recast it as a message of “comradery.” While welcoming Companies Act amendments aimed at money laundering and illicit finance, he cautioned against focusing on terrorism financing without addressing the political grievances and State actions that he said fuel armed resistance. He raised concerns over unreleased lands in Valikamam North and Myliddy, alleging continued military occupation, agricultural use by the forces, and destruction of religious sites, and called on the Government to resolve these issues rather than rely on legislation alone.
- The Hon. (Dr.) (Ms.) Kaushalya Ariyarathne - Deputy Chairperson of Committees (in the Chair) JJB
AI summary Hon. (Dr.) (Ms.) Kaushalya Ariyarathne was proposed to take the Chair during the proceedings, and the House agreed. The Deputy Chairperson of Committees then left the Chair, and Hon. Ariyarathne assumed the Chair.
Parliamentary Procedure Full speech → - The Hon. (Mrs.) Anushka Thilakarathne, Attorney-at-Law JJB
AI summary Hon. Anushka Thilakarathne referred to Supreme Court rulings that fundamental rights were violated by the Emergency Regulations imposed in July 2022 during the Aragalaya period. Supporting the Companies (Amendment) Bill, she said it would close loopholes, align Sri Lanka with international standards on anti-money laundering and counter-terrorist financing, and allow requested public access to beneficial ownership information. She cited concerns about foundations and trusts allegedly used to launder funds, and argued that improved public trust in government had contributed to increased tax registrations.
- The Hon. Ravi Karunanayake NDF
AI summary Ravi Karunanayake raised concerns over the Companies Registrar’s malfunctioning online system, questioning vendor arrangements and urging a stable, scalable platform to restore faster company registration and improve ease of doing business. He also warned that proposed Foreign Exchange Act and Companies Act provisions on outward investment limits and beneficial ownership could deter foreign investors if applied impractically. He called for more economically rational policies on renewable energy, LNG procurement, trade agreements, market access, para-tariffs, and infrastructure project delays, arguing that economic management should be driven by cost, investment, and competitiveness rather than political considerations.
- The Hon. Presiding Member procedural
- The Hon. Ravi Karunanayake NDF
AI summary Ravi Karunanayake requested an additional three minutes to continue his remarks. No substantive policy argument or proposal was made in this excerpt.
Parliamentary Procedure Full speech → - The Hon. Presiding Member procedural
- The Hon. Ravi Karunanayake NDF
AI summary Hon. Ravi Karunanayake argued that earlier implementation of reforms such as BOO schemes, commercialization or privatization of SriLankan Airlines, and other policy changes could have addressed current economic pressures. He called for dedicated support for exporters and protection for consumers, citing high taxes, interest rates, utility costs, transport costs, wage increases, and land and property taxes as burdens on SMEs and entrepreneurs. He urged the Government to create space for business activity while noting the need to raise Rs. 5 trillion for expenditure under the new fiscal framework and warning of payment difficulties if fiscal discipline is not sustained.
- The Hon. Presiding Member procedural
- The Hon. Ravi Karunanayake NDF
AI summary Hon. Ravi Karunanayake urged the Government to reconsider the handling of the SVAT system, arguing that manual intervention and VAT cash-flow burdens could undermine exporters’ profitability and competitiveness. He warned that without appropriate tax relief, especially for SMEs, businesses may be weakened or relocate overseas, and asked the Minister to address these concerns. He also defended continuation of the IMF-supported open economic policy framework, crediting earlier reforms and recent economic stabilization efforts for enabling current operations.
- The Hon. Presiding Member procedural
- The Hon. Ravi Karunanayake NDF
AI summary Ravi Karunanayake urged that proposed measures be relaxed until key state and trade-related systems, including e-filing, the Registrar of Companies, ASYCUDA and Sri Lanka Customs, are sufficiently online and functional. He argued that the priority should be building an effective system rather than merely raising revenue, and called for collective effort to strengthen the economy.
- The Hon. Presiding Member procedural
- The Hon. Susantha Kumara Nawarathna JJB
AI summary Hon. Susantha Kumara Nawarathna supported the Companies Act amendment, linking it to Sri Lanka’s FATF anti-money laundering and counter-terrorism financing commitments and the need to identify beneficial owners behind companies and institutions. He argued that stronger disclosure and enforcement would help expose misuse of corporate structures, fraud involving public funds, and entities registered under proxies. He also responded to remarks about the NPP youth movement, referenced the burning of the Jaffna Library and reconciliation efforts with Tamil communities, and cited recent court rulings on the 2022 Aragalaya protests and reported increases in investment as part of the Government’s broader reform agenda.
- The Hon. Presiding Member procedural
- The Hon. Mujibur Rahman SJB
AI summary Hon. Mujibur Rahman, speaking during the Companies (Amendment) Bill debate, raised concerns over the halted release of imported vehicles at Hambantota Port. He said around 600–700 vehicles have been held by Customs since 27 May 2025 over a “cross-border” issue, despite importers claiming the practice has operated since 2013 and imports were permitted under Gazette No. 2428/07. He asked why the Government has not resolved the matter or made a decision, noting that dollar payments have already been made and only Customs duty and release remain.
- The Hon. Mujibur Rahman SJB
AI summary Hon. Mujibur Rahman raised concerns over imported vehicles held at Hambantota Port, stating that importers are incurring demurrage and need a clear decision to either release the vehicles or return them. He questioned current vehicle pricing and Customs’ reclassification of certain hybrid vehicles, such as WagonR units, as petrol vehicles, which he said has increased duties from about Rs. 3.5 million to Rs. 4 million. He urged the Minister to urgently engage with importers and provide a resolution.
- The Hon. Presiding Member procedural
- The Hon. Mujibur Rahman SJB
AI summary Mujibur Rahman raised concerns over differing customs duty treatment for BYD ATTO 3 electric vehicles, stating that new imports were declared at 100 kW and charged Rs. 5.5 million while used vehicles were treated as 150 kW and charged Rs. 9.5–10 million, despite BYD listing the model at 150 kW. He questioned whether the lower duty treatment indicated improper links between importers and the government, and urged the Minister and government to release 500–600 vehicles reportedly stuck at the port after payment in foreign currency.
- The Hon. (Dr.) Anil Jayantha JJB
AI summary Hon. (Dr.) Anil Jayantha clarified that the 300–400 vehicles reportedly detained at the port are being held due to violations of import regulations, not administrative inefficiency. He said the 2025 Gazette permits imports under cross-border LCs, but used vehicles must have proper certification and a Certificate of Cancellation of Registration, which some imports lack. He noted that past releases despite breaches should not be repeated and stated that importers acknowledge the violations while seeking a resolution.
- The Hon. Mujibur Rahman SJB
AI summary Mujibur Rahman challenged the Minister’s claim that a required cancellation document had not been submitted, citing the Controller General of Imports and Exports as saying the issue was the need to amend the relevant Gazette. He argued that importers had submitted all required documents but that releases remained blocked because of the Gazette-related problem.
Public Finance Full speech → - The Hon. (Dr.) Anil Jayantha JJB
AI summary Hon. (Dr.) Anil Jayantha stated that importers had violated existing regulations and were seeking an amendment to the Gazette to regularize earlier irregularities. He said the Government was investigating past documentation issues, including vehicles released subject to post-audit, and had ordered the relevant audits. He argued that amending the Gazette to permit release would amount to changing the law to accommodate a breach, which he said was not feasible.
- The Hon. Presiding Member procedural
- The Hon. Sunil Rathnasiri JJB
AI summary Hon. Sunil Rathnasiri disputed Opposition claims about Port Authority land in Trincomalee being used for a solar project, stating that approval had been granted on 01.07.2023 under the previous administration. He also defended the formation of youth clubs under “A Tomorrow for Youth” and alleged past misuse of National Youth Services Council and election-period funds by political opponents. He argued that the Government had prioritised economic recovery and rule of law by passing several legal reforms, including criminal procedure, proceeds of crime, foreign judgments, and Companies Act amendments, and linked these measures to improved tourism, remittances, and foreign investment prospects.
- The Hon. Presiding Member procedural
- The Hon. Imran Maharoof SJB
AI summary During debate on the Companies (Amendment) Bill, Imran Maharoof raised the situation in Muthunagar, Trincomalee, where he said long-standing farming families have been affected by land being allocated to private companies, including for solar-related works. He said over 350 residents and more than 1,000 family members had cultivated the area for decades and cited local institutions as evidence of long-term settlement. He urged the Government to stop attributing the issue to previous administrations and to provide a remedy, proposing compensation, alternative land, or allocation of remaining land for affected cultivators.
- The Hon. Presiding Member procedural
- The Hon. Wasantha Samarasinghe JJB
AI summary Hon. Wasantha Samarasinghe proposed that Hon. (Prof.) Sena Nanayakkara take the Chair. Following the proposal, Hon. (Dr.) (Ms.) Kaushalya Ariyarathne left the Chair and Hon. (Prof.) Sena Nanayakkara assumed it.
Parliamentary Procedure Full speech → - The Hon. Bhagya Sri Herath, Attorney-at-Law JJB
AI summary Hon. Bhagya Sri Herath supported the amendments to the Companies Act, No. 07 of 2007, stating that they implement FATF Recommendation 24 on beneficial ownership by requiring companies to disclose their true share owners. He argued that the measure is necessary to combat money laundering, terrorist financing and corruption, and said it would improve Sri Lanka’s legal credibility and investment climate by assuring transparency for lawful investors. He noted that concerns about applicability to foreign companies had been raised before the Supreme Court and said the amendments followed discussion and consensus without evidence of adverse impact on investors.
- The Hon. Presiding Member procedural
- The Hon. Bhagya Sri Herath, Attorney-at-Law JJB
AI summary Bhagya Sri Herath cited a 1981 Hansard exchange in which Jaffna MP V. Yogeswaran condemned police arson in Jaffna while the House laughed, linking such incidents and the events of 1983 to the later decades-long war and its human and economic costs. He rejected attributing the causes solely to the 2019 government and ended by expressing support for Sinhala, Tamil and Muslim communities travelling together in friendship and peace towards Jaffna.
- The Hon. Presiding Member procedural
- The Hon. Roshan Akmeemana JJB
AI summary Hon. Roshan Akmeemana said the Government’s priorities are economic stabilization and growth, alongside action against fraud and corruption. He linked the Companies Act amendment to the earlier Proceeds of Crime Act, stating that it would close loopholes allowing illicit funds to be laundered through companies by requiring disclosure of beneficial ownership and real interests. He also cited economic indicators, including increased government revenue, higher remittances, and targets to reduce poverty by 2027 and eradicate extreme poverty by 2030.
- The Hon. Presiding Member procedural
- The Hon. Roshan Akmeemana JJB
AI summary Hon. Roshan Akmeemana stated that Sri Lanka’s economy is showing signs of recovery, citing a 101% increase in FDI during the first six months and 4.8% GDP growth in the first quarter. He referred to Bloomberg’s projection that GDP could return to 2018 levels by 2026 and noted the Central Bank Governor’s expectation of similar second-quarter growth, with a target of 5% growth for the year.
Public Finance Full speech → - The Hon. Presiding Member procedural
- The Hon. B. Ariyawansha SJB
AI summary Hon. B. Ariyawansha supported the Companies (Amendment) Bill, stating that it would help address past practices such as importing caraway and pepper for re-export, which he said disadvantaged local farmers. He highlighted the sharp decline in Sri Lanka’s pepper harvest and the resulting hardship for farmers in districts including Ratnapura, Matara, Monaragala, Kandy, and Matale. He called for a targeted programme through agricultural and export development institutions to provide technology, fertilizer, agro-chemicals, and knowledge transfer to improve pepper yields and increase foreign exchange earnings.
- The Hon. Presiding Member procedural
- The Hon. Upul Kithsiri JJB
AI summary Proposed amendments to the Companies Act, No. 7 of 2007, are presented as necessary to identify ultimate beneficial ownership of companies and strengthen safeguards against money laundering, terrorism financing, and other unlawful activity. The speech links the reforms to improving investor confidence and international recognition, citing past legal gaps, opaque company ownership, delays in land allocation, approval-related corruption, and banking obstacles faced by investors. It also refers to recent government action on market issues such as rice, salt, and vehicle imports as part of a broader claim that the administration is removing barriers to economic development.
- The Hon. Kanthasamy Prabu JJB
AI summary Hon. Kanthasamy Prabu supported the amendments to the Companies Act, No. 07 of 2007, stating that they would address gaps on beneficial ownership information and strengthen anti-corruption, anti-money-laundering, and counter-terrorism financing compliance. He linked the need for reform to past economic mismanagement and corruption, including the Central Bank bond scam, and said the current administration was pursuing investigations and institutional independence. He also emphasized the need to protect and formalize companies, particularly in the North and East, and said the Government would fund and conduct a fair investigation into the Chemmani mass graves.
- The Hon. (Dr.) Kavinda Heshan Jayawardhana SJB
AI summary Hon. (Dr.) Kavinda Heshan Jayawardhana linked the Companies (Amendment) Bill to the need to protect investment, exports and GSP+ access, while urging vigilance against terrorism financing and illicit business proceeds, citing the Easter attacks. He raised concerns over public security after a shooting in Marawila, and questioned delays by the NMRA in registering locally produced pharmaceuticals for export, arguing that export earnings are needed for future debt servicing. He also called for renewed accountability over the Easter attacks, referred to alleged intelligence failures and disclosures made in the House, and said the Deputy Minister of Defence should resign or be removed if relevant allegations are substantiated. He rejected claims that the Catholic Church requested leave for named investigators, warning against attributing false positions to the Church.
- The Hon. Presiding Member procedural
- The Hon. Wijesiri Basnayake JJB
AI summary Wijesiri Basnayake spoke during the debate on amendments to the Companies Act, No. 7 of 2007, and expressed regret at what he described as limited Opposition participation. He focused on money laundering and terrorist financing, citing international examples and references to the Panama Papers, Pandora Papers, FATF, IMF estimates, and AUSTRAC definitions. He argued that money laundering threatens financial systems, national security, macroeconomic stability, fiscal revenue, and public trust, and emphasized the need for strong global and domestic anti-money-laundering and counter-terrorist-financing measures.
- The Hon. Presiding Member procedural
- The Hon. Presiding Member procedural
- The Hon. Wijesiri Basnayake JJB
AI summary Hon. Wijesiri Basnayake explained that Sri Lanka’s anti-money laundering and counter-terrorist financing framework has been assessed under FATF and APG standards, with past grey-listing linked to strategic deficiencies. He stated that Sri Lanka complies with 39 of the 40 FATF Recommendations, but needs to improve implementation of Recommendation 24 on timely access to beneficial ownership information of legal persons. He said amendments to about 20 provisions of the Companies Act, No. 7 of 2007, including section 51, are being prepared in line with IMF recommendations and international standards.
- 20 Procedural Committee Stage: Companies (Amendment) Bill – Clauses and Amendments 6 speeches
- 21 Adjournment Adjournment: Questions at Time of Adjournment 15 speeches