Seminar on Legal and Tax Implications of Amalgamations

Thursday, 5 June 2014 00:04 -     - {{hitsCtrl.values.hits}}

A seminar on ‘Legal and Tax Implications of Amalgamations’ is to be held on 11 June with the objective of equipping those in the financial sector to better interpret the legal effects in this regard. Organised by the Association of Corporate Lawyers Sri Lanka (ACL), the half day seminar will be held at Hilton, Colombo. The event will commence at 1:15 p.m. and go on till 5:30 p.m. With the Central Bank having announced the move towards consolidation earlier this year, to build a dynamic and stable financial sector, it is observed that the interpretation of the legal effects of an amalgamation is still not understood by many. Thus the ACL notes the demystification of the legal effects of the subject is of utmost importance to reveal the true nature of amalgamation. The seminar will hold its discussions on nine topics such as ‘What is Amalgamation?’, ‘Case Law Pertaining to Amalgamation’, Amalgamation vs. Takeover’, ‘Procedure under the Companies Act No.7 of 2007 in carrying out an Amalgamation of Companies’, ‘Amalgamation Proposal’, ‘Effects of Certificate of Amalgamation’, ‘Minority Shareholders and their Rights in an Amalgamation’, ‘Tax Issues pertaining to Amalgamation (Capital Allowance, Losses, Tax Credits, VAT Issues, Stamp Duty, etc.)’ and ‘Amalgamation and Labour Laws and Amalgamation and Statutory Authorities’. The seminar will feature as speakers President’s Counsel K. Kanag-Isvaran, Central Bank Assistant Governor C.J.P. Siriwardena and KPMG Principal, and Tax and Regulatory Suresh R.I. Perera, whereas the panel will consist of Ministry of External Affairs Legal Advisor Thusantha Wijemanna, President’s Counsel Chandana Liyanapatabendy, and Nithya Partners Partner Neomal Gunawardena. The target audiences for the seminar are Company Directors, Accountants, Auditors, Finance Managers, Corporate Legal Counsels and In-House Legal Counsels, Attorneys at Law, Bankers, Investors, and Academics. For more information on the event call 0777846909/0777709412 or email