The Hon. Kumara Jayakody

¶ 01 Hon. Presiding Member, I move the following amendments:

¶ 02 (1) "On page 14, delete line 20 and substitute:

¶ 03 'items (a), (b), (c), (d), (e)(i) and (e)(ii) of paragraph 1 of the Schedule.'"

¶ 04 (2) "On page 15, delete from line 19 to line 35 (both lines inclusive) and substitute:

¶ 05 'the companies set out and, except for the company relating to hydropower generation referred to in item (e)(i) of paragraph 1 of the Schedule, one hundred per centum (100%) of the shares of the subsidiary companies incorporated under this section shall at the commencement be vested in the Secretary to the Treasury, and, in respect of the companies set out in items (a), (b), (c), (d) and (e)(ii) of paragraph 1 of the Schedule and the company relating to hydropower generation referred to in item (e)(i) of paragraph 1 of the Schedule, one hundred per centum (100%) of the shares shall be permanently held by the Secretary to the Treasury; and'"

¶ 06 (3) "On page 16, delete from line 1 to line 6 (both lines inclusive)."

¶ 07 (4) "On page 19, immediately after line 7, insert:

¶ 08 '(7) The administration and management of the affairs of the company referred to in item (e)(i) of paragraph 1 of the Schedule shall be vested in a Board of Directors appointed by the Minister consisting of five members, one of whom shall be appointed by the Minister as Chairman, namely:- (a) a nominee of the Ministry of the Minister holding a post not lower than that of an Additional Secretary or an equivalent position; (b) a Deputy Secretary to the Treasury or his nominee; (c) a person with not less than fifteen years’ experience in institutional management in the electricity sector; (d) a person with not less than fifteen years’ experience in procurement; and (e) a person with not less than fifteen years’ experience in one or more of the following fields: (i) financial management; (ii) economics; (iii) accountancy; or (iv) commercial law.'"

¶ 09 (5) "On page 19, delete lines 10 and 11 and substitute:

¶ 10 'management, appointed by the Minister, consisting of nine members as follows:'"

¶ 11 (6) "On page 20, delete line 2 and substitute:

¶ 12 '(vii) commercial law; (viii) four persons from among those serving in or formerly served in the Ceylon Electricity Board as at the date immediately prior to the appointed date.'"

¶ 13 (7) "On page 20, delete line 4 and substitute:

¶ 14 'and the companies referred to in subsections (4), (5), (6), (7) and (8).'"

¶ 15 (8) "On page 20, immediately after line 11, insert:

¶ 16 '(ba) The Boards of Directors of the companies referred to in subsections (4), (5), (6), (7) and (8) and of the companies referred to in items (e)(i) and (e)(ii) of paragraph 1 of the Schedule shall, prior to assuming office, make a general disclosure to the Minister of any existing pecuniary interests as at the date of their appointment. (bb) Where any Director of the companies referred to in subsections (4), (5), (6), (7) and (8) and of the companies referred to in items (e)(i) and (e)(ii) of paragraph 1 of the Schedule has a direct or indirect interest in any matter to be considered in future, the nature of such interest shall be disclosed to the Board and such Director shall not participate in any discussion or decision of the Board in relation to such matter. (bc) No person who is not an officer of the Minister’s Ministry or of the Treasury shall be appointed as a member of more than two Boards of the companies referred to in items (a), (b), (c), (d), (e)(i), (e)(ii) and (e)(iii) of paragraph 1 of the Schedule.'"

¶ 17 (9) "On page 20, delete line 12 and substitute:

¶ 18 '(9) the companies referred to in subsections (4), (5), (6), (7) and (8)'."

¶ 19 Amendments put, and agreed to.

¶ 20 Clause 13, as amended, ordered to stand part of the Bill.

¶ 21 Clause 14.- (Amendment of section 18 of the principal enactment)