Speaker endorses Colombo Port City Economic Commission (Amendment) Bill
January 21, 2026 12:17 pm
Speaker of House Dr. Jagath Wickramaratne has endorsed the certificate on the Colombo Port City Economic Commission (Amendment) Bill.
This was announced at the commencement of the Parliament session today (21).
The Colombo Port City Economic Commission (Amendment) Bill was presented to Parliament December 02, 2025 and was taken up for debate and passed on January 01, 2026, according to a statement issued by the Department of Communication of Parliament.
The Colombo Port City Economic Commission (Amendment) Bill was introduced with the objective of amending the principal enactment, the Colombo Port City Economic Commission Act, No. 11 of 2021, with a view to strengthening regulatory oversight of offshore banking activities and tax compliance, and further amending and clarifying the criteria relating to Businesses of Strategic Importance (BSI).
Through this Amendment Act, a more stringent supervision mechanism has been introduced for financial activities within the Zone, particularly by granting the Central Bank of Sri Lanka the authority to regulate and supervise offshore banking activities in conformity with international standards.
Furthermore, the Act aligns the economic framework of the Port City with global banking requirements and national financial stability objectives, the statement said.
Accordingly, the Colombo Port City Economic Commission (Amendment) Bill comes into operation as the Colombo Port City Economic Commission (Amendment) Act, No. 01 of 2026.
