Category: Legal Research
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Operation of the Arbitration Act in Sri Lanka
Arbitration, as a dispute resolution mechanism, is often hailed for its flexibility and enforceability. However, its effectiveness under the Arbitration Act No. 11 of 1995 in Sri Lanka has come under scrutiny. This analysis examines the intent, application, and perceived shortcomings of the Act while offering a roadmap for improvement. Historical Context Sri Lanka boasts…
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The Banking System and Depositor Protection
Building trust among investors, both domestic and foreign, is essential for a strong financial system. A robust banking regulatory framework ensures banks are closely monitored, laws are strictly enforced, and failing institutions are either rehabilitated or removed from the system promptly. Such measures strengthen the financial system, maintaining its health and fostering growth. Key Challenges…
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Liability of an Auditor in Delict
Auditing is a professional service where an auditor examines the financial accounts of a business entity to form and express an opinion on their accuracy, truth, and fairness. This process results in an audit report, a critical document that establishes legal relationships between various parties. The role of an auditor is governed by professional ethics…
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Competition Law in Sri Lanka: An Overview
Competition law, often referred to as antitrust law, is a crucial aspect of ensuring fair market practices and preventing anti-competitive behavior in the corporate sector. Globally, such laws regulate monopolistic practices, abuse of dominant market positions, and mergers that reduce competition, thereby safeguarding consumer interests and promoting economic efficiency. Sri Lanka joined this global movement…
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Crime and Security in Cyberspace
The rise of cyberspace as a “network of networks” has revolutionized communication, commerce, and content dissemination. However, its rapid proliferation has exposed vulnerabilities, leading to the emergence of cybercrime as a significant global challenge. This article delves into the complexities of cybercrime, the legislative responses, and the transnational dimensions of ensuring security in cyberspace. The…
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An Overview of Debt Recovery Laws in Sri Lanka
Lending money and giving loans, also called “commercial credit,” are crucial for business and economic growth. Lenders usually require “security” from borrowers, which is a legal claim on property to ensure repayment. Lenders, including banks and financial institutions, support the economy by providing funds for businesses and individuals. To protect these institutions, governments have created…
