Seminar on Foreign Exchange Act No. 12 of 2017 and Regulations

The Sri Lankan Parliament recently enacted the New Foreign Exchange Act No 12 of 2017 which repealed the previous exchange control law that has been in place for decades. Its regulations are scheduled to be effective from 1 November. Asian Pathfinder Legal Consultancy & Drafting Services will organise a seminar on this subject to be held on 15 November at the Cinnamon Lakeside hotel Colombo from 2 to 5 p.m.  

The keynote address will be delivered by Udeni Alawattage the Controller of Exchange. The other speakers/panellists are Dr. Dayanath Jayasuriya P.C., author of leading text on the Sri Lankan anti money laundering and financial transactions reporting legislation, former Chairman of Securities and Exchange Commission of Sri Lanka and Insurance Board of Sri Lanka; Premasiri Ratnayake Former Chairman, Lanka SWIFT User Group, Former Chairman, Association of Compliance Officers of Banks, Former President, Sri Lanka Forex Association and Shiyara Dassanayake, Consultant – Corporate Services BDO Secretaries Ltd. 

Key provisions of the Act that will be discussed at the seminar are the regulations under the new Act, dealers of foreign exchange, current transactions, capital transactions, specific transactions, amnesty, offences and penalties under the Act, liability , appeal process, board of inquiry and important definitions, 

For registrations please call Lara – 0770715595 or James – 0714725234.