The Department of the Registrar of Companies has issued a final warning to companies that have failed to submit their Beneficial Ownership information, cautioning that continued non-compliance could lead to legal action, including fines of up to Rs. 1 million and imprisonment for up to 10 years.
In a notice issued on October 28, the Registrar General of Companies said the extended deadline of October 21, 2026, had expired and called on all companies that had yet to fulfil the requirement to submit their outstanding information immediately.
The original submission deadline of September 30, 2026, had previously been extended to October 21.
According to the notice, failure to comply with the statutory requirements relating to Beneficial Ownership constitutes an offence under the Companies Act, No. 7 of 2007, as amended by the Companies (Amendment) Act, No. 12 of 2025.
The department warned that companies continuing to disregard the requirement could face legal proceedings and penalties prescribed under the law. These include a fine of up to Rs. 1 million, imprisonment for a period not exceeding 10 years, or both, where applicable.
Beneficial Ownership information identifies the individuals who ultimately own or exercise control over a company, helping strengthen corporate transparency and accountability.
The Registrar General has urged all affected companies to submit their outstanding details and regularise their records without further delay through the department's Beneficial Ownership System.
The notice reiterated that immediate compliance with the legal requirements is mandatory.
Sri Lanka’s plan to expand stock market participation across every district presents an opportunity to mobilise domestic savings, broaden investment ownership and strengthen capital formation....
The Department of the Registrar of Companies has issued a final warning to companies that have failed to submit their Beneficial Ownership information, cautioning that continued non-compliance could lead to legal action, including fines of up to Rs. 1 million and imprisonment for up to 10 years.
In a notice issued on October 28, the Registrar General of Companies said the extended deadline of October 21, 2026, had expired and called on all companies that had yet to fulfil the requirement to submit their outstanding information immediately.
The original submission deadline of September 30, 2026, had previously been extended to October 21.
According to the notice, failure to comply with the statutory requirements relating to Beneficial Ownership constitutes an offence under the Companies Act, No. 7 of 2007, as amended by the Companies (Amendment) Act, No. 12 of 2025.
The department warned that companies continuing to disregard the requirement could face legal proceedings and penalties prescribed under the law. These include a fine of up to Rs. 1 million, imprisonment for a period not exceeding 10 years, or both, where applicable.
Beneficial Ownership information identifies the individuals who ultimately own or exercise control over a company, helping strengthen corporate transparency and accountability.
The Registrar General has urged all affected companies to submit their outstanding details and regularise their records without further delay through the department's Beneficial Ownership System.
The notice reiterated that immediate compliance with the legal requirements is mandatory.
President Anura Kumara Dissanayake has directed officials to accelerate ongoing projects to increase passenger-handling capacity and improve facilities at Katunayake International Airport, while also advancing the development of domestic airports across the country to meet future aviation demands.
The directive was issued during a discussion on the 2027 Budget proposals for the Ministry of Ports and Civil Aviation held at the Presidential Secretariat.
During the meeting, the President reviewed the progress of development projects at Katunayake Airport and stressed the importance of completing them without delay. He also highlighted the need to expand supporting infrastructure, including road networks surrounding the airport, to improve accessibility and accommodate growing passenger traffic.
Improving convenience and facilities for air travellers at both Katunayake International Airport and regional airports was another key focus of the discussion.
The meeting was attended by Minister of Ports and Civil Aviation and Minister of Energy Anura Karunathilaka, Minister of Labour and Deputy Minister of Finance and Planning Dr. Anil Jayantha Fernando, and Deputy Minister of Ports and Civil Aviation Janith Ruwan Kodituwakku.
Other participants included Chief of Staff to the President Prabath Chandrakeerthi, Senior Additional Secretary to the President and Secretary to the Ministry of Energy Russell Aponso, Secretary to the Ministry of Finance, Planning and Economic Development Dr. Harshana Suriyapperuma, and Secretary to the Ministry of Ports and Civil Aviation W. W. S. Mangala.
Deputy Secretary to the Treasury A. K. Seneviratne, Director General of the Department of National Budget Jude Nilukshan, and other officials from the relevant institutions and the Ministry of Finance also attended the discussion.
Sri Lanka has intensified efforts to attract British investment and expand export opportunities through a series of business engagements in London and Dover ahead of Sri Lanka EXPO 2027, scheduled to be held in Colombo from January 14 to 17.
Organised by the Sri Lankan High Commission in London, the programme brought together British investors, business leaders and representatives of key trade organisations to explore opportunities for stronger commercial ties between the two countries.
The main event, the UK–Sri Lanka Trade and Investment Forum, was held at the High Commission and attracted more than 130 participants. A high-level Sri Lankan delegation led by Minister of Trade, Commerce, Food Security and Cooperative Development Wasantha Samarasinghe attended the forum.
Addressing the gathering, Samarasinghe invited British businesses to explore Sri Lanka’s export potential and investment opportunities, highlighting the benefits available under the United Kingdom’s Developing Countries Trading Scheme (DCTS).
Sri Lankan High Commissioner to the UK Nimal Senadheera emphasised the importance of strengthening bilateral trade and investment relations, while promoting EXPO 2027 as a platform for establishing new business partnerships.
Export Development Board Chairman and Chief Executive Officer Mangala Wijesinghe presented an overview of Sri Lanka EXPO 2027, outlining opportunities for international buyers and investors.
Participants discussed potential avenues for sourcing Sri Lankan products, expanding commercial links with UK buyers and attracting foreign investment. Representatives from Marks & Spencer, the Board of Investment of Sri Lanka, the Ministry of Industries and Entrepreneurship Development and the private sector also took part in the discussions.
Investment prospects in Port City Colombo, real estate and other sectors were among the opportunities highlighted during the programme.
The Sri Lankan delegation also met representatives of the UK–Sri Lanka Chamber of Commerce to discuss ways to strengthen business cooperation and encourage greater British participation in EXPO 2027.
In addition, the delegation held discussions with Commonwealth Enterprise and Investment Council Chief Executive Samantha Cohen on connecting Sri Lankan businesses with international investors through Commonwealth business networks.
The programme concluded with a business networking event in Dover, jointly organised with RS Rock Holdings, which attracted more than 30 UK business representatives, including potential investors.
According to the Sri Lankan High Commission, the engagements were aimed at building stronger commercial partnerships and encouraging British buyers, investors and business representatives to visit Colombo for EXPO 2027.
The High Commission expressed confidence that the exhibition would create further opportunities to expand trade, attract investment and strengthen economic cooperation between Sri Lanka and the United Kingdom.
