| PREVIEW OF THE DEPARTMENT


|Objectives and Main Functions

The main objective of The Department of the Registrar of Companies is the efficient and effective implementation, administration and enforcement of several legislative enactments assigned to it; namely,
(a) Companies Act No 7 of 2007,
(b) The Societies Ordinance No 16 of 1891,
(c) The Cheetus Ordinance No 61 of 1935,
(d) Public Contracts Act No 3 of 1987;

(a) Companies Act No 7 of 2007 which performs the following functions
abc

i.Incorporation of Private Limited Liability Companies
ii.Incorporation of Public Limited Liability Companies
iii.Registration of Foreign Companies
iv.Registration of Off-Shore Companies
v.Incorporation of Unlimited Companies
vi.Incorporation of Public Quoted Companies
vii.Incorporation of Guarantee Comanies
vii.Incorporation of Associations
ix.Registration of Auditors and Company Secretaries

(b) Societies Ordinance No 16 of 1891

The Societies Ordinance is the next in terms of the number of societies registered. This ordinance provides for the registration of mutual provident societies, established for the object of promoting thrift, giving relief to members in time of sickness, distress, or aiding them in financial difficulties, and providing for widows and orphans and other societies in respect of which the Minister of Commerce and Consumer Affairs may extend the powers of the ordinance (a proposal to review this law is under consideration).

(c) The Cheetus Ordinance No 61 of 1935

The Cheetu Ordinance provides for the registration and regulation of cheetus.

(d) Public Contract Act No 3 of 1987

The Public Contract Act provides for the registration of any persons who act as agent or subagent, representatives or nominees for and behalf of any tenders in respect of a public contract which exceeds Rs 5 million and such public contracts.

When implementing these functions, services such as issues of certified copies, searching of company files, checking and registration of documents, instituting prosecutions against defaulting companies, attending the inquiries of the business community and the public, are carried out continuously.


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Number of companies registered under the Joint Stock Companies Ordinance ( 1861 - 1938 July)

Incorporated Abroad & Registered in Sri Lanka
456
Joint Stock Companies
820

Total
1,276