Recent Cabinet Decisions highlights that attention has been focused to convert the Colombo Stock Exchange, functioning as a “not for profit” member driven organization into a “for profit” organization which is controlled by the shareholders.
Accordingly, the proposal made by Mangala Samaraweera, the Minister of Finance to amend the drafted bill for converting the Colombo Stock Exchange which is functioning as a company limited by guarantee, into a company limited by shares by incorporating the ratio of distributing the shares found to be further amended and changing its legal background was approved by the Cabinet
Source From biz.adaderana
Author: Biz Editor
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