Speaker Dr. Jagath Wickramaratne informed Parliament today (21) that he certified the Colombo Port City Economic Commission (Amendment) Bill yesterday, bringing it into force as law.
The Bill was presented to Parliament on December 5, 2025, and was debated and passed on January 7, 2026.
The amendment revises the Colombo Port City Economic Commission Act, No. 11 of 2021, with the aim of strengthening regulatory oversight on offshore banking and tax compliance, while further clarifying the criteria for Businesses of Strategic Importance.
It also grants enhanced powers to the Central Bank of Sri Lanka to regulate and supervise offshore banking activities in line with international standards and aligns the Port City’s economic framework with global banking requirements and national financial stability objectives.
Accordingly, the Colombo Port City Economic Commission (Amendment) Act, No. 01 of 2026, is now in force.
