Electronic Transactions Act 2006

The Electronic Transactions Act, No. 19 of 2006, is a piece of legislation from Sri Lanka that provides the legal framework for electronic transactions, recognition of electronic contracts, matters related to the formation and validity of contracts, and other related matters in the digital environment. Here are some key points based on the context provided:

  1. Amendments to the Act: The Electronic Transactions Act has been amended by the Electronic Transactions (Amendment) Act, No. 25 of 2017. This amendment includes changes to the long title of the Act and various sections within the principal enactment.
  2. Certification Authority Management: According to the amendment, a new section 18A was inserted after section 18 of the principal enactment, which stipulates that the Minister shall appoint a task force or body of persons to manage and administer the Certification Authority.
  3. Changes in Terminology: The amendment also revised certain terminologies, such as replacing the word “accreditation” with “licensing or authorization” in section 19 of the principal enactment.
  4. Electronic Communications: The amendment addressed the issue of electronic communications and the intention to be bound by electronic offers, as well as the acceptance or issuance of documents in electronic form by ministries, departments, etc.
  5. Application of the Electronic Transactions Act: The provisions of the Electronic Transactions Act, No. 19 of 2006, apply unless they are expressly excluded by the provisions of another Act or are inconsistent with the provisions of that other Act.
  6. Offences and Punishments: The Act specifies that offences listed in Schedule A and Schedule B carry the same meanings and punishments as those specified in their respective enactments, with a provision that if the punishment in those enactments is less than a fine not exceeding one million rupees or imprisonment not exceeding seven years or both, then the fine or imprisonment specified in the Electronic Transactions Act will apply.
  7. Financial Transactions Reporting: The Financial Transactions Reporting Act, No. 6 of 2006, is another related piece of legislation that deals with the reporting of financial transactions, including electronic funds transfers, and the obligations of institutions to conduct due diligence and report suspicious transactions.

These points are derived from the specific documents provided in the context and reflect the legal framework as it pertains to electronic transactions in Sri Lanka. For more detailed information or application of these laws, consulting the full text of the legislation or seeking professional legal advice is recommended.

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