ACL organises legal and tax implications of amalgamations seminar

The Association of Corporate Lawyers Sri Lanka (ACL) has organised a seminar on ‘Legal and Tax Implications of Amalgamations’ to be held on Wednesday, June 11, 2014 at Hilton Colombo from 1:15 p.m. to 5:30 p.m.

The corporate world is well aware of the Central Bank policy to consolidate the numerous financial service entities i.e. banks and finance companies in order to build a dynamic and stable financial sector in Sri Lanka. There are many mergers and amalgamations taking place within the industry in line with the Central Bank policy. The interpretation of the legal effect of an amalgamation is still not understood by many; hence demystification of the legal effect of amalgamation is of utmost importance to reveal the true nature of amalgamation.

This interactive seminar will cover and discuss the areas: What is an 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.), amalgamation and labour laws and amalgamation and statutory authorities.

It will be an interactive seminar with presentations made by eminent resource personnel, namely, Central Bank Assistant Governor Financial Systems Stability Cluster C.J.P. Siriwardena on ‘Overview of the Central Bank Policy on Merger of Finance Companies’, K. KanagIsvaran, P.C. on ‘Legal Nature of Amalgamation and the Procedure to Amalgamate’ and KPMG Principal Tax and Regulatory Suresh R.I. Perera on ‘Tax Issues Pertaining to Amalgamation’ followed by a panel discussion chaired by External Affairs Ministry Legal Advisor Thusantha Wijemanna, which will also include Chandana Liyanapatabendy, P.C. and Nithya Partners Partner Neomal Gunawardena as eminent panellists.

This seminar is designed for a target audience of company directors, accountants, auditors and finance managers, corporate legal counsels and in-house legal counsels, attorneys-at-law, bankers, investors, academics, and all others who wish to further their knowledge on this important topic.

Further information could be obtained from the Event Manager, Dashing Events at 385/7, Rajagiriya Road, Rajagiriya or on 0722462391or to the Secretary of the ACL on 0777-846909 or to the Assistant Secretary of the ACL on 0777-709412 or by E-Mail <dhashanthie@ dashingevents.biz>.