CMA presents amendments to Apartment Ownership Act to Justice Minister

CMA Chairman Sarana Karunarathna presents amendments to act to Justice Minister Ali Sabry and co-chairs of eminent legal panel appointed by minister while CMA General Manager Dr. Indunil Liyanage, DGM Regulatory Nalin Gankanda and Legal Consultant Tissa  Perera also participated in this occasion

Condominium Management Authority (CMA) Chairman Sarana Karunaratne, Attorney-at-Law, presented the CMA’s proposed amendments to Apartment Ownership Act No.10 and 11 of 1973 to Justice Minister Ali Sabry recently. 

CMA General Manager Dr. Indunil Liyanage, Deputy General Manager Regulatory Nalin Gankanda and Legal Consultant Tissa Perera, the co-chairs and committee members of the eminent legal panel appointed by Sabry to carry out the necessary amendments to the Apartment Ownership Act also participated in this occasion. 

Sabry appointed an eminent legal panel to amend Apartment Ownership Act No.10 and 11 of 1973, to meet today’s demands of the developers and parcel owners in the country. The committee forwarded those timely amendments to the Condominium Act to the CMA for its observations and suggestions. A thorough study was conducted by the senior management of CMA on those proposals and recently forwarded its suggestions and observations to Sabry and the eminent legal panel appointed by him. 

The CMA was established under Act of Parliament No. 39 of 2003, to regulate and monitor government and private sector condominiums in the country. Since 2003, the CMA established 1,126 management corporations to monitor and regulate individual condominiums in the country, which amounts to approximately 38,573 apartment units. The CMA consists of various divisions to support this endeavour namely engineering, customer care, certificate issuance, administration and human resources, legal, finance, information technology and internal audit. 

The CMA is a self-funded (profitable) institute functioning under the Urban Development, Coast Conservation, Waste Disposal and Community Cleanliness State Ministry.

According to the act, the CMA will play a significant role in the development of the port city. A plan has been developed by the CMA for the port city development activities under the one-stop-shop concept introduced by the UDA to expedite the approval process within a short period of time to meet the foreign and local investor demands.  The CMA provided its assistance to the Sri Lanka Tourist Board to draft their regulations for the service apartment concept in the country.