|
Delivering
the order in three connected fundamental rights petitions,
on 8 July 2008, the Supreme Court presided by Chief
Justice Sarath N. Silva, P.C., and comprising Justice
Nimal Gamini Amaratunga and Justice K. Sripavan, has
affirmed the Direction on Corporate Governance for licensed
banks issued by the Monetary Board of the Central Bank
of Sri Lanka on 26 December 2007, and upheld the principles
that there should be limits on the age, length of service,
and number of directorships that could be held by directors
of licensed banks subject to certain exemptions.
The Court also made order in respect of the transitional
provisions in relation to three areas, which had been
contested in Court under the fundamental rights petitions.
These contested issues, the transitional provisions
as currently constituted, and the amendments ordered
by the Supreme Court, are set out below
Full
Story....
|
|
