Global Legal Framework for Bitcoin

Bitcoin is a digital currency/cryptocurrency that is not supported by any country’s central bank or government. It’s different from other online transactions. We can say it’s peer to peer (P2P) transaction. We cannot see third-party involving here. Also, Bitcoin is sent between addresses via online, hence do not want to be tied to real world identity. […]

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Can make a Lease Agreement prior to institute Partition Action?

The relevant law regarding the issue states as follows: Section 66 of Partition Law No. 21 of 1977 (1) After a partition action is duly registered as a lis pendens under the Registration of Documents Ordinance no voluntary alienation, lease or hypothecation of any undivided share or interest of or in the land to which […]

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Clarification on Charitable Trust in Sri Lanka.

by Ashmila Mubarak (LL.B-Hons) While the Trusts Ordinance applies to all trusts in Sri Lanka, it made certain important concessions to religious communities. Chapter 10 of the Trusts Ordinance deals with charitable trust. The chapter starts with Section 99 and Section 99(1) reads as follows: The expression “charitable trusts” includes any trust for the benefit […]

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Can Foreign Shareholder Hold 51% shares in a Limited Liability Company?

According to the LAND (RESTRICTIONS ON ALIENATION) ACT, No. 38 OF 2014, Section 2 says that, (1) Notwithstanding any provision to the contrary in any other written law, the transfer of title of any land situated in Sri Lanka shall be prohibited if such transfer is (a) to a foreigner; or (b) to a company incorporated […]

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