The Committee on Public Finance (COPF) has green-lighted the clauses under the Casino Business (Regulation) Act No. 17 of 2010, its chairman MP Harsha de Silva told the parliament today (Dec 08).
Accordingly, the COPF has given the approval to regulate casinos under strict conditions.
Addressing an earlier parliamentary session, the COPF chairman reiterated the need to expedite the establishment of a casino regulatory authority in order to grant licences for operating casinos in Sri Lanka.
The COPF previously refused to approve regulations under the Casino Business (Regulation) Act since the relevant bill is being brought forth for the first time to licence and regulate casinos.
The committee, after looking into the absence of a casino regulatory authority and the issues pertaining to it, was of the opinion that licences to operate casinos should not be given without a regulatory body and raised vehement objections to this.
MP de Silva mentioned that, on the requirement of the government, approval was granted on the condition that a regulation body would be appointed by September 30, 2023.
The lawmaker stated that the COPF would continue to monitor if this is done properly.