Cabinet nod to change CSE legal status to a limited stock company

The Cabinet of Ministers on Tuesday approved a proposal presented by Finance Minister Mangala Samaraweera to amend the bill drafted to change the legal status of the Colombo Stock Exchange (CSE).

The proposal is anticipated to transform the CSE, which is a non-profit organisation managed by the members, to a profit-oriented shareholders’ company.
The proposal also included the new shareholding ratio of the CSE. 

The Cabinet of Ministers has also approved the proposal presented by Samaraweera to revise the new bill drafted to update the present Securities Exchange Act with new amendments.