The Hon. Chathuranga Abeysinghe - Deputy Minister of Industry and Entrepreneurship Development
The Deputy Minister explained that Circular 121/8 provides for fines ranging from Rs. 10,000 to Rs. 333,333 for breaches, but that settlements may be permitted after violations under stricter monitoring and conditions. He stated that regulatory gaps would be addressed and that licences may be temporarily reissued subject to conditions in such cases.
Verbatim record (translated)
Machine-translated from Sinhala / Tamil / English¶ 01 Hon. Member, Circular 121/8 allows fines from Rs. 10,000 up to Rs. 333,333 for breaches. In practice, even after violations, parties sometimes enter a settlement, effectively giving them another chance, subject to stricter monitoring and conditions to prevent recurrence. Where regulatory gaps exist, we will address them. Under such conditional settlements, a licence may be temporarily reissued with conditions.
Provenance
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- Hansard, Tuesday, 4 March 2025 ·No. 1742359468086980 ·English daily/uncorrected Hansard
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Cite as: The Hon. Chathuranga Abeysinghe - Deputy Minister of Industry and Entrepreneurship Development. 10th Parliament, Parliament of Sri Lanka. Hansard, 4 March 2025. No. 1742359468086980. Politick, https://staging.politick.io/lk/speeches/10228