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Seminar to explore ‘Revision to Corporate Governance Rules’ with key industry experts

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A seminar titled ‘Revision to Corporate Governance Rules’ is set to take place on October 5th at the Movenpick Hotel, Colombo -03, offering attendees invaluable insights into the evolving landscape of corporate governance. The event is scheduled to run from 2:00 pm to 5:00 pm, and it promises to be a significant gathering for professionals and stakeholders in the field.

The distinguished speaker for this seminar is Dr. Dayanath Jayasuriya PC, a former Chairman of the Securities and Exchange Commission (SEC). Dr. Jayasuriya’s extensive experience in regulatory matters and corporate governance is expected to provide attendees with a comprehensive understanding of the proposed revisions to corporate governance rules.

Keynote address is scheduled to be deilivered by Faizal Saleih, Chairman SEC.

The seminar will also feature a panel discussion with prominent industry figures, including , Renuke Wijayawardhane, Asite Talwatte, Chairman of the Corporate Governance Committee of CA Sri Lanka, and Malik Cader, a former Director General of the SEC. Their participation is anticipated to foster a dynamic exchange of ideas and perspectives on the subject.

For those interested in attending and seeking further details about the event, Annya can be contacted at 0716192910, and James at 070 6420642.

The seminar is being organised by JCI Senate Sri Lanka in technical collaboration with Asian Pathfinder Legal Consultants and Drafting Services, and Corporate Management Consultants. It is expected to provide attendees with valuable insights into the latest developments and revisions in corporate governance, equipping them with the knowledge necessary to navigate the evolving corporate landscape effectively.



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CIABOC probe: CC under pressure to ask Speaker to step down as Chairman

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Dayasiri questions legitimacy of appointments made by Council

The Constitutional Council (CC) should ask its head, Speaker Dr. Jagath Wickramaratne, to step down temporarily pending an investigation by the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) into a complaint lodged by sacked Deputy Secretary General of Parliament Chaminda Kularatne, SJB MP Dayasiri Jayasekera has said.

Former Minister Jayasekera said so in response to The Island queries pertaining to Kularatne’s recent complaint to the CIABOC.

Jayasekera pointed out that the CC, which is responsible for key appointments, couldn’t afford to have a person under CIABOC investigation as its head. “We have never experienced a similar situation since the establishment of the CC in 2000,” the Kurunegala District lawmaker said.

Parliament introduced CC under the 17th Amendment to the Constitution. It was abolished in 2010, reinstated in 2015 through the 19th Amendment, then replaced by a Parliamentary Council in 2020, and reintroduced via the 21st Amendment in October 2022.

MP Jayasekera said that the NPP government had turned a blind eye to his recent request made in Parliament for the Speaker to step down. He said that subsequently he had discussed the issue with other MPs and they were of the view that Dr. Wickramaratne’s continuation as the Chairman of the CC undermined the integrity of the council.

A parliamentary committee headed by Dr. Wickramaratne sacked Kularatne on January 23 over alleged irregularities pertaining to his appointment as Deputy Secretary General of Parliament and Chief of Staff. Kularatne lodged the complaint with the CIABOC on 2 February.

Austin Fernando, Professor Wasantha Seneviratne and Ranjith Ariyaratne were appointed as non-Members of Parliament to the CC on 23 January, the day Parliament sacked Kularatne.

MP Jayasekera said that the CC should discuss the issue with the Speaker. Political parties represented in parliament should intervene to ensure that the controversy over the Speaker’s conduct didn’t undermine the apex body.

The CC consists of Prime Minister Dr.  Harini Amarasuriya (Ex-officio), Speaker Dr. Jagath Wickramaratne (Ex-officio), Leader of the Opposition Sajith Premadasa (Ex-officio), one MP appointed by the President (Bimal Rathnayake), five persons appointed by the President, upon being nominated as follows: one MP nominated by agreement of the majority of the Members of Parliament representing the Government (Aboobucker Athambawa, M.P), one MP nominated by agreement of the majority of the MPs of the political party or independent group to which the Leader of the Opposition belongs—Ajith P. Perera—and three persons nominated by the Speaker by agreement of the Prime Minister and the Leader of the Opposition—Austin Fernando, Professor Wasantha Seneviratne and Ranjith Ariyaratne—and one MP nominated by agreement of the MPs other than those representing the Government and those belonging to the political party or independent group to which the Leader of the Opposition belongs, and appointed by the President (Sivagnanam Shritharan, M.P).

The CC recommend nominations to the President for the appointment of Chairpersons and Members of Election Commission, Public Service Commission, National Police Commission, Audit Service Commission, Human Rights Commission of Sri Lanka, Commission to Investigate Allegations of Bribery or Corruption, Finance Commission, Delimitation Commission and National Procurement Commission.

Jayasekera asked how Dr. Wickramaratne could continue as CC head as appointments to CIABOC, too, are made by the 10-member body.

The CC also approve/disapprove recommendations by the President for the appointment Chief Justice and the Judges of the Supreme Court, President and the Judges of the Court of Appeal, Members of the Judicial Service Commission, other than the Chairman, Attorney-General, Governor of the Central Bank of Sri Lanka, Auditor-General, Inspector-General of Police, Parliamentary Commissioner for Administration (Ombudsman) and Secretary General of Parliament.

MP Jayasekera said that it would be really interesting to see the response of the newly appointed civil society members to the developing situation. The SJBer pointed out that the recent appointment of Samudika Jayaratne, a Senior Deputy Auditor General as the Auditor General was made after Kularatne moved the CIABOC against the Speaker.

The JVP and NPP, having preached other political parties of transparency, couldn’t pretend the Speaker’s issue was not serious. Dr. Wickramaratne was appointed Speaker in Dec 2024 after Asoka Ranwala had to step down after being exposed for making false higher education qualifications.

by Shamindra Ferdinando

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Auditor General urged to probe coal scam

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The Electricity Consumers’ Association (ECA) Friday (6) called on newly appointed Auditor General Samudika Jayarathne to begin her tenure by launching an investigation into the controversial coal procurement deal, which has drawn widespread public criticism.

Addressing a media briefing in Marandagahamula, Gampaha, ECA Secretary, Sanjeewa Dhammika, said the probe should be conducted independently. The appointment of a new Auditor General, following a vacancy of nearly six to seven months, was a crucial step in restoring the effectiveness of the state audit system, he said, extending congratulations to Jayarathne.

Dhammika urged the Auditor General to carry out a swift, independent investigation into the questionable coal procurement deals, alleging that they had caused significant economic and environmental harm to the country.

He called for the findings of such an investigation to be disclosed to the public as a priority.

He also called for an immediate audit of Lanka Transformer Ltd, which has faced severe criticism from the Committee on Public Enterprises (COPE). Dhammika said the audit should reveal details of alleged irregularities, identify those responsible, and disclose any misuse of public funds.

Noting that the government held a substantial share in Lanka Transformer Ltd, he stressed that the matter constituted a direct responsibility of the State.

“The audit system should not function to provide political protection, but to safeguard public funds,” Dhammika said, adding that the Association expected the new Auditor General to uphold this principle.

By Anuradha Hiripitiyage

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First-ever monkey holding centre to be set up in Matale

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A 150-hectare site near the Kalu Ganga Reservoir in Matale District has been earmarked for Sri Lanka’s first-ever holding centre for Toque Macaques, the Department of Wildlife Conservation (DWC) announced.

The centre will feature water, food, and security facilities, providing a safe environment to manage macaques that cause damage in nearby communities. The Matale District Development Committee has approved the project, following a recommendation from the DWC.

Wildlife Range Officer Chamath Lakshman Perera told the Committee that similar holding centres operate in several countries, including Malaysia. A total of Rs. 283.87 million has been allocated for the project.

Under the plan, macaques causing destruction will be captured and relocated to the centre. Population control measures will include fitting loops on female monkeys to prevent breeding. The facility will be secured to ensure the animals cannot escape back into the wild.

Officials said the site has sufficient natural food sources, but additional supplies will be provided if necessary. Each macaque is expected to require around 70 grams of food per day.

The project aims to balance wildlife conservation with community protection, offering a model for managing human-macaque conflicts in the country, Perera said.

by Nimal Gunathilake

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