BASL appoints Committee chaired by Ikram Mohammed PC to study Colombo Port City Economic Commission Bill

RIFKA ZIYARD

COLOMBO : The Bar Association of Sri Lanka (BASL) issued a statement dated 9^th April 2021 that a committee has been appointed to study and make recommendations to the BASL in respect of the Colombo Port City Economic Commission Bill which was published on 24^th March 2021. This Bill was placed on the Order Paper of the Parliament and presented by the Hon. Prime Minister and Minister of Finance, Minister of Buddhasasana, Religious & Cultural Affairs and Minister of Urban Development & Housing on 8^th April 2021.

The Chairman of the Committee is Ikram Mohamed PC.

Committee members are Uditha Egalahewa PC, Chandaka Jayasundera PC, Eraj De Silva, Manjuka Fernandopulle and Dhanya Gunawardena. Mr Shivan Cooray was appointed as Convener while Yoshani Demuni was appointed as the co-Convener.

Colombo Port City Economic Commission Bill is issued to provide for the establishment of a Special Economic Zone; to establish a Commission empowered to grant registrations, licenses, authorizations and other approvals to carry on businesses and other activities in and from such Zone; to provide for the identification of a Single Window Investment facilitator for the promotion of ease of doing business within such Zone; to determine and grant incentives and other exemptions for the promotion of businesses of strategic importance within such Zone; to enter into transactions as provided, of government marketable land and project company marketable land and premises and condominium parcels standing thereon within such Zone; to promote and facilitate international trade, shipping logistic operations, offshore banking and financial services, information technology and business process outsourcing, corporate headquarters operations, regional distribution operations, tourism, and other ancillary services within such Zone; to establish an International Dispute Resolution Centre within such Zone; to promote urban amenity operations and the settlement of a residential community within such Zone; and for matters connected therewith or incidental thereto.