Speaker Certifies Key Legislation on Insolvency and Environmental Protection

Speaker Mahinda Yapa Abeywardena has certified two important legislative bills. The Bailout, Rehabilitation and Insolvency (Corporate and Individual) Bill, which was first read on March 17 and passed by Parliament on May 6, amends several acts including the Companies Act and Inland Revenue Act, while repealing the Insolvency Ordinance to protect debtors' essential assets. Additionally, the National Environmental (Amendment) Bill was certified today, July 21, becoming Act No. 15 of 2026. This amendment aims to strengthen the legal framework for environmental protection and management to address current challenges, building upon existing legislation from 1980 and subsequent amendments.