The Hon. Wasantha Samarasinghe

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

¶ 02 (1) On page 6, delete lines 26 and 27 and substitute: “(3) Every director or secretary of a company, where such director or secretary holds a beneficial interest in the company...”

¶ 03 (2) On page 8, delete line 16 and substitute: “‘a resident means a natural person who is a resident, or a person exercising authority as prescribed...’”

¶ 04 (3) On page 8, immediately after line 23, insert: “(3) Every company incorporated or registered under the Companies Act, No. 07 of 2007, or under any written law previously applicable to companies, shall, within a period of three months from the date of operation of the Companies (Amendment) Act, No. of 2025, disclose information relating to the beneficial owner referred to in subsection (1).”

¶ 05 (4) On page 8, delete lines 24 to 31 (both lines inclusive) and substitute: “Public access 130A.(1) The Registrar shall make available to the public, either electronically or physically, prompt access to information relating to the beneficial owners of a company. Such information shall be limited to the full names (including former full names, if any), nationalities (including dual citizenship where applicable), countries of residence, business addresses of the beneficial owners, and the nature and extent of the beneficial ownership in the company.”

¶ 06 (5) On page 9, delete line 2 and substitute: “‘as referred to in the subsection’”

¶ 07 (6) On page 9, immediately before line 6, insert: “(2) Any person from among the public who intends to obtain a certified copy of the information referred to in subsection (1) shall make a request to the Registrar together with such fee as may be prescribed.”

¶ 08 (7) On page 10, delete line 23 and substitute: “be liable to a fine or to imprisonment or to both such fine and imprisonment.”

¶ 09 (8) On page 12, delete line 2 and substitute: “‘including entering, confirming, and recording within the system’”

¶ 10 Amendments put, and agreed to.

¶ 11 Clause 7, as amended, ordered to stand part of the Bill.

¶ 12 Clauses 8 to 13 ordered to stand part of the Bill.