Business

Pearson Higher Nationals
in Business
Unit 07: Business Law
Assignment – 01
ASSIGNMENT
Name: MAHENDRAN JEEWAPRASHAN

ESOFT Reg.No : 00135985
Student ID: E165872
Module Name: Business Law
Name of the Lecturer: Ms. Oshani Dissanayake
Date Due: 04th December 2022
Date Submitted: 04th December 2022
E-Mail: jeewaprashan444@gmail.com
Contact No: 0772832289
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LO1 Explain the nature of the legal system

Pass, Merit & Distinction P1 P2 M1 D1
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Pass, Merit & Distinction P3 M2 D1

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LO3 Examine the formation of different types of business organisations
Pass, Merit & Distinction P4 P5 M3 D2

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Pearson
Higher Nationals in
Business
Unit 07: Business Law
Assignment 01
General Guidelines
1. A Cover page or title page – You should always attach a title page to your assignment. Use
previous page as your cover sheet and make sure all the details are accurately filled.
2. Attach this brief as the first section of your assignment.
3. All the assignments should be prepared using a word processing software.
4. All the assignments should be printed on A4 sized papers. Use single side printing.
5. Allow 1” for top, bottom , right margins and 1.25” for the left margin of each page.
Word Processing Rules
1. The font size should be 12 point, and should be in the style of Time New Roman.
2. Use 1.5 line spacing. Justify all paragraphs.
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4. Use footer function in the word processor to insert Your Name, Subject, Assignment No,
and Page Number on each page. This is useful if individual sheets become detached for any
reason.
5. Use word processing application spell check and grammar check function to help editing your
assignment.
Important Points:
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will not be accepted.
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then be asked to complete an alternative assignment.
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and a reference list.
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reduced to A REFERRAL or at worst you could be expelled from the course
Student Declaration
I hereby, declare that I know what plagiarism entails, namely to use another’s work and to present it as
my own without attributing the sources in the correct way. I further understand what it means to copy
another’s work.
1. I know that plagiarism is a punishable offence because it constitutes theft.

2. I understand the plagiarism and copying policy of the Edexcel UK.
3. I know what the consequences will be if I plagiaries or copy another’s work in any of the
assignments for this program.
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own, and where I have made use of another’s work, I will attribute the source in the correct way.
5. I acknowledge that the attachment of this document signed or not, constitutes a binding
agreement between myself and Edexcel UK.
6. I understand that my assignment will not be considered as submitted if this document is not
attached to the attached.
Jeewaprashan444@gmail.com 04.12.2022
Student’s Signature: Date:
(Provide E-mail ID) (Provide Submission Date)
Higher National Certificate/Diploma in Business
Assignment Brief
Student Name /ID Number M.Jeewaprashan

Unit Number and Title Unit 7: Business Law
Academic Year
Unit Tutor
Assignment Title Explain the basic nature of the legal system and Illustrate the
potential impact of the law on a business.
Assess the advantages and disadvantages of the formation of
different types of business organizations.
Issue Date
Submission Date
IV Name & Date
Submission format
SECTION A:
The submission should be in the form of an individual written report. This should be written in a concise, formal
business style using single spacing and font size 12. You are required to make use of headings, paragraphs and
subsections as appropriate, and all work must be supported with research and referenced using Harvard
referencing system.
The report - The recommended word count is 2500–3,000 words for the report although you will not be penalized
for exceeding the total word limit.
SECTION B:
This should be a 10-minute individual presentation prepared using a relevant software that includes a 5 minutes
question and answer session. The presentation slides and speaker notes should be attached together and submitted
as one copy. Students are required to make effective use of headings, bullet points and subsections as appropriate.
Research should be referenced using Harvard referencing system.
The recommended length is 1500–2000 words, including speaker notes, although students will not be penalized
for exceeding 2000 words.
Unit Learning Outcomes:

LO2 Illustrate the potential impact of the law on a business
LO3 Examine the formation of different types of business organisations
Learning Outcomes and Assessment Criteria
Pass Merit Distinction
P1 Explain different M1 Evaluate the LO1 and LO2

sources of law. effectiveness of the legal D1 Provide a coherent
P2 Explain the role of system in terms of recent and critical evaluation of
government in law reforms and the legal system and law,
making and how statutory developments. with evidence drawn from
and common law is a range of different
applied in the justice relevant examples to
courts. support judgments.
LO2 Illustrate the potential impact of the law on a

Business
P3 Using specific M2 Analyse the potential

examples, illustrate how impact on business
company, employment through differentiation
and contract law has a between legislation,
potential impact upon regulations and
business. standards.
LO3 Illustrate the potential impact of the law on a D2 Critically analyse the
Business formation of different
types of business
P4 Explore how different M3 Analyse the organisations.
types of business advantages and
organisations are legally disadvantages of the
formed.
formation of different
types of business
P5 Explain how business
organisations.
organisations are
managed and funded.
Contents
1. Evolution of law in Sri Lanka.............................................................................................................17
2. Various sources of law available in Sri Lanka..................................................................................18
2.1 The Constitution............................................................................................................................18
2.2 Statutes...........................................................................................................................................18
2.3 Subordinate Legislation................................................................................................................18
2.4 Judicial Precedent..........................................................................................................................18
2.4 Customs..........................................................................................................................................19
3. The practice of different legal systems in Sri Lanka.........................................................................20
3.1 English Law....................................................................................................................................20
3.2 Roman-Dutch Law........................................................................................................................20
3.3 Kandyan Law.................................................................................................................................20
3.4 Thesawalamai Law........................................................................................................................21
3.5 Muslim Special Law......................................................................................................................21
4. Legal aspects that are relevant for new businesses in Sri Lanka.....................................................22
5. Different aspects of operating and winding up businesses in Sri Lanka.........................................25
5.1 Operating the Business..................................................................................................................25
5.2 Winding up the Business...............................................................................................................26
6. The role of the government in law-making........................................................................................27
6.1 Court System of Sri Lanka...............................................................................................................28
7. Potential implications of the law on a business in Sri Lanka...........................................................31
7.1 Company Law................................................................................................................................31
7.2 Contract Law.................................................................................................................................31
7.3 Employment Law...........................................................................................................................32
7.4 Apartment Ownership Law..........................................................................................................33
7.5 Intellectual Property Laws............................................................................................................33
8. Differentiation between legislation, regulations and standards.......................................................34
References................................................................................................................................................35
Basic information about business organizations........................................................................................37
Classification of business organizations....................................................................................................38
Business organizations are classified based on Ownership....................................................................39
Organizations in the private sector.....................................................................................................40
Organizations in the public sector......................................................................................................40
Business organizations are classified based on their Objectives............................................................41
For-profit Businesses.........................................................................................................................41
Businesses that are not for profit.......................................................................................................41
Scale-based classification of business organizations.............................................................................42
Small and medium-sized Businesses.................................................................................................42
Large-scale Businesses......................................................................................................................43
Various Business Organizations in Sri Lanka............................................................................................46
1. Sole proprietorship........................................................................................................................47
Characteristics of sole proprietorship................................................................................................47
2. Partnerships...................................................................................................................................48
Characteristics of partnerships...........................................................................................................48
3. Incorporated companies.................................................................................................................49
Characteristics of incorporated companies........................................................................................49
Pros of incorporated companies.........................................................................................................49
Cons of incorporated companies........................................................................................................50
4. Cooperative Societies....................................................................................................................50
Characteristics of cooperative societies.............................................................................................50
5. Associations...................................................................................................................................51
6. State corporations..........................................................................................................................51
Characteristics of state corporations..................................................................................................51
Pros of state corporations...................................................................................................................52
Cons of state corporations.................................................................................................................52
7. Departments...................................................................................................................................53
Characteristics of state departments...................................................................................................53
Pros of state departments...................................................................................................................53
Cons of departments..........................................................................................................................54
Pros of a sole proprietorship business................................................................................................55
Cons of being a sole proprietor..........................................................................................................55
Pros of partnership businesses...........................................................................................................56
Cons of partnership businesses..........................................................................................................56
Pros of incorporated companies.........................................................................................................57
Cons of incorporated companies........................................................................................................57
Pros of cooperative societies..............................................................................................................58
Cons of cooperative societies............................................................................................................58
Pros of state corporations...................................................................................................................59
Cons of state corporations.................................................................................................................59
Pros of state departments...................................................................................................................60
Cons of departments..........................................................................................................................60
Question & Answer...................................................................................................................................62
References................................................................................................................................................64
Assignment Brief and Guidance:
Section A
Scenario:
You are working in a law firm and advising new start-up companies on the legal system and key
legislations that they should know and how such legislations apply to their companies. You have been
asked to produce a handbook for the new companies in order to support the business advice and guidance
given by you.
The handbook is expected to flow through a clear structure from the beginning explaining evolution of law,
various sources of law available and the practice of different legal systems. An explanation and a critical
reflection of the legal aspects that are relevant for new businesses that the start-up companies should be
aware of (need to demonstrate strengths and weaknesses by using examples). An explanation regarding
different aspects of operating and winding up businesses should be included. It is essential for new business
organizations to understand the importance of complying with governmental regulations, thus the handbook
should contain an explanation on the role of the government in law-making. To further specify, the report
should explain and evaluate the potential implications of law on a business such as including but not limited
to company law, contract law and employment law etc.
A section in the handbook should also be dedicated to differentiating between legislation, regulations and
standards and the applicability of them in businesses with examples.
Section B
Scenario:
In your role as a paralegal, you have been invited to attend a Small Business Expo conference that will be
held in Sri Lanka. You will be doing a presentation as a guest speaker on how different types of
organisations are legally formed and provide local advice and guidance to the businesses.
Present an introduction to different types and classification of business organizations in both public and
private sectors, providing specific examples to illustrate how organizations are being formed in different
legal structures. A critical review of the advantages and disadvantages of forming different types
organizations in the light of various legal structures is expected to be addressed with an evaluation of how
different organisations are managed and funded in both public and private sectors e.g. limited companies,
social enterprises, corporations, co-operatives. Provide a specific example of each category.
Grading Rubric
Grading Criteria Achieved Feedback
P1 Explain different sources of law.
P2 Explain the role of government in law

making and how statutory and common law
is applied in the justice courts.
P3 Using specific examples, illustrate how

company, employment and contract law has a
potential impact upon business.
P4 Explore how different types of business

organisations are legally formed.
P5 Explain how business organisations are
managed and funded.
P6 Compare and contrast different sources of
legal advice and support for dispute
resolution to make appropriate
recommendations to legal solutions.
M1 Evaluate the effectiveness of the legal
system in terms of recent reforms and
developments.
M2 Analyse the potential impact on business
through differentiation between legislation,
regulations and standards.
M3 Analyse the advantages and
disadvantages of the formation of different
types of business organisations.
M4 Recommend legal solutions for resolving
a range of disputes, using examples to
demonstrate how a party might obtain legal
advice and support.
D1 Provide a coherent and critical evaluation
of the legal system and law, with evidence
drawn from a range of different relevant
examples to support judgments.
D2 Critically analyse the formation of
different types of business organisations.
D3 Critically evaluate the effectiveness of
legal solutions, legal advice and support for
dispute resolution.
Name: M.JeewaprashanBusiness Law Assignment 1 1

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1. Evolution of law in Sri Lanka
Since its independence from British colonial rule in 1948, Sri Lanka has remained a
constitutional democracy. The Constitution, which was promulgated as law in 1978,
serves as the foundation of the legal system, repealing the previous Constitution, which
was adopted and enacted in 1972. Except for a few entrenched provisions, which require
a 2/3 majority of parliament or a referendum, the Constitution allows amendments or
repeal of its provisions.
English law was also introduced into the Sri Lankan legal system through judicial
activism, with judges adopting English law principles. This was sometimes done in
violation of Roman Dutch laws. According to (L.J.M. Cooray, 1972), Kandyan Law
applies to Kandyan Sinhalese, Thesavalamai Law is essentially customary law that is
personal and territorial in nature and applies specifically to Jaffna Tamils in the Northern
province, and Muslim Law applies to Muslims.
If the aforementioned personal laws apply to the individuals in question, a number of tests
must be met. However, because it is the country's common law, Roman Dutch Law is
also used in other areas of life. The island nation's common law underwent significant
metamorphosis because it was in a state of aggregation, absorbing various aspects of law.
Because of the mingling of different laws, British colonial judges had some difficulty
determining applicable laws, particularly where Roman-Dutch law principles were
expected to be followed. As a result, British judges introduced principles of English law
on numerous occasions in response to ambiguity in the application of Roman-Dutch law.
Judges could avoid applying Roman-Dutch law principles because there were no judicial
precedents and the laws were not codified.

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2. Various sources of law available in Sri Lanka
2.1 The Constitution
The Constitution is the supreme law of the land; it enshrines the rule of law and the
separation of powers, as well as the people's sovereignty.
2.2 Statutes
One of the most important sources of law is legislation enacted by the supreme legislative
authority. In Sri Lanka, legislation can be of three types: (a) regulations and
proclamations issued by the Governors between 1801 and 1833, (b) Ordinances passed by
Ceylon's colonial legislatures between 1833 and 1947, and (c) Acts passed by the
Parliament after 1948. All laws enacted prior to 1978 are still valid under Article 168 of
the 1978 Constitution.
2.3 Subordinate Legislation

Subordinate legislation, also known as delegated legislation, is issued by a body or
authority that is authorized by primary legislation to enact such secondary legislation.
Subordinate legislation includes rules, regulations, and orders issued by Ministers and
government officials under and in accordance with primary legislation, as well as bylaws
enacted by local governments. These are typically available on the official websites of the
relevant ministry or the relevant regulating authority established for such purposes, as
well as the local authority. The laws enacted by the Ministry of Environment, for
example, are available on the website of the Central Environmental Authority, while
some of the Western Provincial Council's by-laws are available on the website of the
Western Provincial Council Secretariat.
2.4 Judicial Precedent

According to the doctrine of judicial precedent, "different cases must be decided in the
same way if the material facts are the same." (L.J.M. Cooray, 1972) As a result, courts are
bound by the principles established in previous decisions. Sri Lanka's legal system,
influenced by English law, follows the principle of stare decisis. All other courts are
bound by Supreme Court decisions. If a decision of the Court of Appeal is not in conflict
with a decision of the Supreme Court, it is binding on the courts of first instance.
Decisions of the Supreme Court prior to 1978, and decisions of the Privy Council when

1
this Council in the United Kingdom was the final Court of Appeal for Sri Lanka, are
technically no longer binding since 1978, when a new Constitution became effective in
Sri Lanka. However, prior case law may still be used as "guidance," and the word
"guidance" implies that prior case law is much closer to binding evidence than persuasive
evidence.
2.4 Customs
"Legal custom differs from social custom in that the former sanctions are more certain in
their operation." (L.J.M. Cooray, 1972) However, a distinction must be made between
local and general customs. Local customs are the rules that are followed in a specific
trade or location. These are recognized and enforced by the courts, though the court
would have to satisfy a prerequisite of validity before taking cognizance of the relevant
local custom. According to (L.J.M. Cooray, 1972), general custom "is not regarded as a
custom' because it applies to all persons and would form the basis of the country's
common law."

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3. The practice of different legal systems in Sri Lanka
3.1 English Law

The legal system in Sri Lanka is based on the English common law system. As a result,
the interpretation of case law is governed by English law principles such as judicial
precedent (lower courts follow the reasoning of higher courts in similar, subsequent
cases) and ratio decidendi (reasons for judgment). District Courts hear civil cases, while
Magistrates' Courts and High Courts hear criminal cases. An appeal can be made from the
decisions of these trial courts to the Court of Appeals and then to the Supreme Court.
3.2 Roman-Dutch Law

Due to its continued use under the British, Roman-Dutch law gained even more
prominence than it had under the Dutch. The common law as we know it today has been
modified by statute, both explicitly and by necessary implication. It has also been
influenced by judicial decisions in which English law was made applicable rather than the
equivalent Roman-Dutch principle, as well as by local customs and practice. (L.J.M.
Cooray, 1974) The influence of Roman-Dutch Law is most noticeable in succession,
persons, property, and obligations. The Law of Delict, which governs civil wrongdoing
today, is primarily based on Roman-Dutch law. South Africa is the only other country
with a legal system based on the Roman-Dutch system.
3.3 Kandyan Law

Kandyan Law applies to ethnic Sinhalese who can trace their ancestors back to the
Kandyan provinces in central Sri Lanka during the Kandyan monarchy.
Kandyan Sinhalese could marry under the Marriage and Divorce (Kandyan) Act (Chapter
113), or the General Marriage Ordinance (Chapter 114). (Chapter 112). Kandyan
Sinhalese who marry under the Kandyan Act are subject to Kandyan law in matters of
marriage, divorce, and intestate succession under the Kandyan Law Ordinance and the
Kandyan Matrimonial and Inheritance Ordinance. Kandyan adoption laws apply to those
who marry under Kandyan Law as well. The relevant laws on this subject are mostly
found in the Kandyan Declaration and Amendment Ordinance (Chapter 71), as well as the

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Kandyan Marriages and Divorce Act. The General Law is made applicable in areas where
the Kandyan Law is silent, such as alimony and child custody.
3.4 Thesawalamai Law

The Dutch codified thesavalamai in 1706; the British enacted the Thesavalami Regulation
No. 18 in 1806. Ordinance No. 5 of 1869, the Matrimonial Rights and Inheritance
Ordinance of 1911, as amended by Ordinance No. 58 of 1947, the Thesavalamai
Ordinance and Thesavalamai Pre-Emption Ordinance, and the Jaffna Matrimonial Rights
and Inheritance Ordinance No.1 of 1911 are also relevant laws.
Thesavalamai Law is based on ancient customs of Jaffna Tamils in Sri Lanka and is both
territorial and personal in nature, as it applies to all lands in the Northern province and as
a personal law to those Tamils who live in the Northern province.
3.5 Muslim Special Law

According to (T. Nadaraja, 1972), the Muslim Special Laws apply to all Muslims in Sri
Lanka in family-law matters. When a Muslim marries another Muslim, the bride and
groom do not have the option of getting married under the General Marriage Ordinance,
as it expressly excludes the applicability of the provisions therein to Muslim marriages.
The Marriage and Divorce (Muslim) Act, No.13 of 1951, and any subsequent
amendments govern marriage, divorce, and other related issues involving Muslims.

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4. Legal aspects that are relevant for new businesses in Sri
Lanka
According to (CBSL, 2021) A Step-by-Step Guide to Doing Business in Sri Lanka stated
that the following factors should be considered when establishing a new business in Sri
Lanka:
Company Registration
Any organization that is registered under the Company Act No. 07 of 2007 should reserve
a business name.
Example:
A Private Limited Company is a small business that is privately owned. To start one
of these, you'll need at least two employees, one shareholder, and one director. A Pvt
Ltd Company's number of owners is also limited to 50.
PVT LTD Companies, unlike Public Limited Companies, cannot trade their company
stock on the stock market. You can also impose ownership restrictions to protect your
company from hostile takeovers.
Getting Taxpayer Identification Number

Get a Taxpayer Identification Number (TIN) at the Head Office, the nearest Regional
Office, or online through the IRD web portal (www.ird.gov.lk)
Taxpayer Registration
When applying for tax registration, every new business should have been registered for a
TIN.

5
Getting an EPF and ETF Registration
Fill out Form-D with your business registration certificate and apply for registration
within 14 days of hiring your first employee. Employers must register with the ETF
Board using the same number (EPF No.) as the EPF.
Obtaining Approval from the Board of Investment of Sri Lanka

The Board of Investment of Sri Lanka Law No. 4 of 1978 empowers the BOI to approve
investment projects in two categories.
Obtaining a Preliminary Planning Approval, Development Permit, or Certificate of

Conformity.
Colombo Municipal Council (CMC) is a relevant institution (for the projects come under
the purview of Colombo Municipality, except for the projects relevant to Tourism
Industry)
Obtaining a Water Supply Line.

National Water Supply and Drainage Board is a relevant institution (NWSDB)
Getting an Electricity Connection.

Relevant Institutions:
Ceylon Electricity Board (CEB)/Lanka Electricity Company (Pvt) Ltd (LECO)
Getting a Phone/Broadband Connection

Sri Lanka Telecom (SLT) PLC is a relevant institution.
Property Registration (Deed).

The Registrar General's Department is a relevant institution.

6
5. Different aspects of operating and winding up businesses
in Sri Lanka
According to (CBSL, 2021) A step by step guide to Doing Business in Sri Lanka stated
that the following aspects should consider in operating and winding up businesses in Sri
Lanka:
5.1 Operating the Business
Creating a Bank Account
Savings and current account facilities are available through licensed commercial banks
and licensed specialized banks.
Getting a Bank Loan

Participate in the initial discussion with the branch manager and hand over the completed
application along with the necessary documentation to obtain the loan.
Shares are issued and listed.

Companies can list equity and/or debt securities on the CSE in the manner that best meets
their needs and in accordance with the CSE's Listing Rules.
Submitting an annual return

Relevant Institution: The Registrar of Companies' Department (ROC)
Taxes must be paid.

With effect from April 1, 2018, income tax is levied in accordance with the provisions of
the Inland Revenue Act No. 24 of 2017.
EPF payment
Employee contribution (minimum 8% from employee and 12% from employer) based on
total earnings for the month
ETF is paying
Employers are required to pay this Board 3% of total employee earnings on a monthly
basis.

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Creating an Export
Sri Lanka Customs/Sri Lanka Export Development Board are two relevant institutions.
Importing
According to Gazette Notification 1786/10 of November 29, 2012, the Customs
Declaration (CusDec) is submitted online.
Vehicle Registration
Department of Motor Vehicles is a relevant institution.
Domain Name Registration

LK Domain Registry provides registration services for Internet Domain Names in the Sri
Lankan country code '.lk' as well as the relevant Sinhala and Tamil language domains.
5.2 Winding up the Business

In Sri Lanka, there are three types of winding up recognized by law:
a) winding up by courts;
b) voluntary winding up; or
c) winding up subject to court supervision.

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6. The role of the government in law-making
The Government
Sri Lanka is a Democratic Republic and a Unitary State governed by a semi-presidential
system combining a presidential and parliamentary system. A two-thirds majority in
parliament is required to amend most provisions of the constitution. Certain fundamental
provisions, such as language, religion, and the reference to Sri Lanka as a unitary state,
require both a two-thirds majority and approval in a nationwide referendum.
The Sri Lankan government, like many democracies, is divided into three branches.
Executive: The President of Sri Lanka is the country's head of state, the commander-in-
chief of the armed forces, and the head of government. He is elected by popular vote for a
five-year term. The President appoints ministers from among elected members of
parliament. While in office, the President is immune from legal proceedings for any acts
done or omitted to be done in an official or private capacity.
Legislative: Sri Lanka's Parliament is a unicameral 225-member legislature, with 196

members elected in multi-seat constituencies and 29 elected through proportional
representation. Members are elected for a five-year term using universal suffrage. After
four and a half years, the president has the authority to call, suspend, or end a legislative
session and dissolve Parliament. The legislature retains the authority to enact all laws.
The Prime Minister, the president's deputy, leads the ruling party in parliament and shares
many executive responsibilities, primarily in domestic affairs.
Judicial: The judiciary is the system of courts in the country that interprets and applies the
law. It is defined in the constitution as an independent institution within the traditional
framework of checks and balances.
According to Judicial System of Sri Lanka, Professional judges preside over Sri Lankan
courts; Supreme Court judges are appointed by the President with the nomination of the
Parliamentary Council, while others are appointed by the Judicial Service Commission.

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6.1 Court system of Sri Lanka
 Supreme Court
The constitution of Si Lanka provides specific provisions as to the powers, duties,
jurisdiction and procedure of the Supreme Court and the Court of Appeal.
The enshrining of the provisions of SC and Court of Appeal (CA) in the Constitution of
SL, as regards the highest courts in Sri Lanka, is to guarantee the independence of the
judiciary and also to safeguard the tenure of judges of the highest courts. [10]
Supreme Court is the Highest Court in Sri Lanka and it has the final appellate
jurisdiction, over matters relating to constitutional affairs, Fundamental rights,
Consultative jurisdiction, and Election Petitions, hears any breach of parliamentary
privileges, and any matter that parliament may refer (Refer Article 118 to 136 of Sri
Lanka Constitution) [11]
 Appeal Court
The Next highest Court was created by the Constitution. The Appeal court has the
jurisdiction to correction of any error in fact or law committed by any court of
the first instance, tribunal or other judicial institution.

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 It has the power to affirm, reverse, correct or modify any order,
judgment or decree or sentence given by the above institutions. [12]
It also has the power to grant injunctions and writs etc. (Refer to articles

137 to 147 of the Sri Lankan Constitution [13])
Courts of First Instances
 The High Court

High Court has two judicial powers now. High Courts exercise criminal jurisdiction as
well as Commercial jurisdictions. High Court has the power to conduct-
 High Court has the power to conduct trials on original criminal jurisdiction.
 High Court can conduct a trial by jury or trial at a bar.
 High court can impose any sentence or penalty prescribed by law.
Under the 13th amendment to the Sri Lankan Constitution, it has appellate and
revisionary jurisdiction by way of the Provincial High Court.
Provincial High Court has been vested with appellate and revisionary jurisdiction in
respect of orders and judgments of the magistrate’s Court, Primary Courts, labour
Tribunals, and Agrarian Services Commissioners Tribunals within the province.
Commercial High Court was established under the High Court of the Provinces Act of
1996. It has jurisdiction to hear civil actions where the cause of action has arisen out of
commercial transactions in which the debt, damage or demand exceeds One Million.
 District Court
District Courts are empowered with unlimited original civil jurisdiction. This court
deals in money, revenue, trust, insolvency, commercial matters, and family matters such
as divorce, adoption, custody of children etc. If aggrieved y a decision of DC, an appeal
could be made to the Court of Appeal.
 Magistrates Court (MC) – Criminal jurisdiction

This court exercises basic criminal summary jurisdiction and inquiries into
the commission of offences. Summary jurisdiction is applied where the Magistrate
could read charges against an accused and asked whether he or she is guilty or not
guilty.
 If pleads guilty, the verdict of guilt will be recorded and punishment will be

imposed.
 If doesn’t plead guilty, a trial will be fixed and witnesses will be called and
cross-examined and a decision will be made.
Magistrate Courts have the power to imprison or impose penalties as prescribed by
law. When the alleged offence seems not to be a one triable summarily by MC, the
Magistrate will make a Preliminary Inquiry to find out whether there is enough evidence
to forward it to High Court.

1
The charge will be read but the accused will not be asked to plead guilty or not. Witnesses
are produced and cross-examined to find out the sufficiency of the evidence to proceed to
the High Court. Aggrieved by the decisions of an MC, an appeal could be made to the
Provincial High Court of the relevant province.
 Primary Court (Civil jurisdiction)

The Judicature Act provides for primary court adjudication where the debt, damage,
demand or claim does not exceed Rs.1500. Further Primary Court has very important
jurisdictions such as – actions for the enforcement of local authority by-laws and
recovery of revenue due to such authority.
Land disputes which are likely to cause a breach of the peace.
It could decide who has the land but it does not decide on the ownership of the land which
is a matter for the District Court to decide.
 Alternate Dispute Settlements

There are many steps taken by the judicial system to sort out problems outside of the
mainstream court system. The intention was to make things easy and settle disputes early,
reduce the workload of courts etc.
 Mediation Boards
The Mediation Boards Act of 1995 and subsequent amendments govern these mediation
aspects. The Minister has the power to set up Mediation Boards and set the areas that will
come under such mediation boards. Commercial mediations are a reality now in Sri
Lanka.
Arbitration is also another form of dispute resolution. The Arbitration Act of 1995 and
subsequent amendments govern the procedure. Tribunals- Labour Tribunal established
under the Industrial Disputes Act provides provisions for the employees to institute
the action against employers.
Agricultural Tribunals established under the Agrarian Services Act of 1979 enable

settling disputes as to cultivation and related matters[14].

2
7. Potential implications of law on a business in Sri Lanka
7.1 Company law

The Companies Act (No. 7 of 2007) specifies the rules, procedures, accounting, and
reporting requirements for Sri Lankan companies that are incorporated or registered. The
Registrar of Companies is in charge of company registration, account filing, and annual
returns.
7.2 Contract law

A leading Sri Lankan jurist once stated that defining a contract has many pitfalls. It
could, however, be defined as a promise that will be enforced or recognized in a court of
law. The following elements must be present in order for a contract to be valid:
• Agreement between the parties;
• Actual or presumed intention to create a legal obligation;
• Due observance of the prescribed forms or modes of agreement, if any;
• Consideration or cause, as the case may be;
• Capacity of parties to contract; and
• Reality of consent (viz the agreement should not be impeachable on the ground of
fraud fear misrepresentation undue influence or such other reason).
According to Section 2 of the Prevention of Frauds Ordinance (Chapter 84 of the

Legislative Enactments of Sri Lanka — Revised 1980), the following types of contracts
have no legal force or avail unless signed in Sri Lanka in the presence of a licensed notary
public and two or more witnesses and attested:
• Any contract or agreement for the future sale or purchase of land or other
immovable property;
• Any promise bargain contract or agreement for effecting any such object and
establishing any security interest or encumbrance affecting the land or other
immovable property.

3
7.3 Employment law
Principal laws governing the various aspects of the employer-employee relationship
include:
1. Shop and Office Employees (Employment and Remuneration) Act
2. The Wage Boards Ordinance
3. The Employees' Provident Fund Act (Act No. 3) (EPF)
4. The Employees' Trust Fund Act of 1974 (EPF)
5. Gratuity Payment Act
6. Workmen's Compensation Act
7. Factory Ordinance
8. Industrial Disputes Act
9. Workmen's Employment Termination (Special Provisions) Act.
10. Maternity Benefits Ordinance .
Example:
Private sector recruitment in Sri Lanka
 Workers in the private sector are usually on fixed-term contracts.
 The probationary period is usually six months, but it can be extended for an
additional three months in some cases.
 Apprentices work on a temporary basis, depending on the time period required for
practical instruction under their skills or trade.
 Temporary workers are hired for a specific task that must be completed within a
specific time frame. Seasonal workers are included in this category as well.
Public sector recruitment in Sri Lanka

 The government employs its employees on a permanent basis, with the
expectation that the arrangement will last until retirement at the age of 60.

4
7.4 Apartment Ownership Law
The Condominium Property Act No. 12 of 1970 was the first Condominium Property
legislation enacted in Sri Lanka. This was repealed and replaced by the Apartment
Ownership Law No. 11 of 1973 (as amended by Acts Nos. 45 of 1982, 4 of 1999, 27 of
2002, and 39 of 2003), which embodies the current law for registering multi-story
properties that can be divided into separate units.
Although, according to the Roman Dutch Law that governs immovable properties in this
country, the owner of a building is also the owner of the land on which the building is
built (the building is in law a fixture on the land). This concept was altered by the passage
of the Condominium Law, which for the first time in Sri Lanka legally recognized
horizontal layers of a building (when registered under that law) as a separate class of
property entitling separate ownership.
7.5 Intellectual Property Laws

Sri Lankan intellectual property law recently advanced with the passage of the Intellectual
Property Act No. 36 of 2003. (new Act). This new Act, which went into effect on
November 12, 2003, repealed the Code of Intellectual Property Act No. 52 of 1979 (old
Act) and all subsequent amendments.
While the new Act incorporates many of the old Act's provisions, it also includes a
number of new provisions designed to bring Sri Lanka's IP law into compliance with the
TRIPs Agreement. The new Act, in particular, includes significant revisions in the areas
of copyright, patents, and designs. Unfair competition provisions have also been
strengthened.

5
8. Differentiation between legislation, regulations and
standards
Legislation is a directive imposed by a government or governing body on an industry, a
section of a community, or on citizens of a country that must be followed in order to
remain within the legal boundaries of that country, community, or industry. Legislation is
passed as laws by a country's parliament or another legislative arm of government.
Following the passage of legislation, there will be regulators, usually government bodies,
who will examine the laws and work out the details that must be enforced in order for
them to be followed. For example, a parliament may pass legislation requiring a uniform
interconnection fee for all telecommunications service providers in a country, and then a
government department (regulator) of communications will detail and enforce the
legislation.
A regulation is a specific requirement that can take many forms, including industry-
specific regulations or regulations with a much broader scope. They are essentially how
regulators enforce legislation and support the requirements of the legislation. In industry,
they specify the specific formal (legal) requirements that must be followed by
organizations, workers, and employers alike in order to create a level playing field within
the organizations' competitive environment as well as within a specific organization. This
is because regulations address product safety, consumer protection, and other public-
interest issues.
Standards facilitate the operation of products, services, and systems by providing

specifications (guidelines or requirements). They ensure quality, safety, and efficiency
when used consistently. They could take the form of a Reference Document that details
the criteria involved.

6
References
CBSL, 2021. A step by step guide to Doing Business in Sri Lanka (CBSL) Revised
Edition: 2021.
L.J.M. Cooray, 1972. An Introduction to the Legal Systems of Sri Lanka. p. page 38.
L.J.M. Cooray, 1974. The Reception of Roman-Dutch Law in Sri Lanka, The
Comparative and International Law Journal of Southern Africa. pp. 7(3), page 2.
T. Nadaraja, 1972. The Legal System of Ceylon in its Historical Setting. p. page 119.

7
Slide 1
Slide 2
Slide 3

8
Basic information about business organizations
When a country's population grows, so does the process of producing and distributing
goods and services. As a result, various types of business organizations are formed in
order to meet people's needs and desires. A business organization is made up of one
person or a group of people who work together to produce goods and services that meet
people's needs and desires.
Businesses receive funding from a variety of sources. Individuals or groups who provide
funds and assume risk by engaging in business are known as business owners. Businesses
are classified into several categories based on who owns them.
Furthermore, businesses are conducted to achieve various businessmen's objectives. As a

result, some businesses are conducted for profit, while others are conducted for the
benefit of society.
Furthermore, depending on the amount of resources available, a businessman can start a

small or large scale business. Businessmen should be astute enough to select an
appropriate type of business organization from among the various types available.
Slide 4

9
Classification of business organizations
Businesses are organized in various ways. These various types of business organizations
can be classified as follows based on a variety of criteria.
• On the basis of ownership
• On the basis of the objective
• According to the scale

0
Slide 5
Business organizations are classified based on Ownership.
The owners are the people who put money into the business and take risks by investing in
it. The owners benefit from the business's profits while also bearing its losses. As a result,
business organizations can be classified as follows based on who owns them.
• Businesses in the private sector
• Businesses in the public sector

1
Organizations in the private sector.
Private sector businesses are those owned by an individual or a group of individuals. Sole
proprietorships, partnerships, incorporated companies, cooperative societies, and other
associations are all types of private sector businesses.
Organizations in the public sector.

Public sector business organizations are those that are funded and owned by the
government. The various types of business organizations in the public sector include state
departments, state corporations, state companies, and businesses registered and owned by
Provincial Councils and Local Government Institutions.

2
Slide 6
Business organizations are classified based on their Objectives.

Different organizations are formed to achieve various goals. Businesses are also run by
their owners to achieve a goal. Businesses are classified into the following categories
based on their goals.
• For-profit Businesses
• Businesses that are not for profit
For-profit Businesses
Profit oriented businesses exist when the primary goal of the company is to make money.
These types of businesses operate in both the private and public sectors.
Businesses that are not for profit.

The primary goal of these businesses is to ensure the well-being of their members and
society as a whole. Non-profit organizations operate in both the private and public
sectors.
Slide 7

3
Scale-based classification of business organizations.
The size of a business organization is determined by a variety of factors. The following
are some of the criteria that were used.
• The amount of capital invested in a business
• The number of employees
• The amount of energy used
• The business's market share
Small and medium-sized Businesses

Various institutions have identified various criteria for classifying small and medium-
sized businesses. As a result, small and medium scale businesses are defined as having a
small amount of capital invested, a small number of employees, and a small market share
in comparison to large scale businesses.
Small scale businesses, for example, are those with fewer than 25 employees, according
to the Census and Statistics Department.

4
Large-scale Businesses
Large scale businesses are defined as having a large amount of capital invested, a large
number of employees, a large market share, and the ability to influence the respective
industry.
As an example, consider a factory with a large number of employees.

5
Slide 8
Sole proprietorship
• The owner of the business responsible for raising fund and make all decisions
• Must keep records of business income and expenses
• Personally responsible for the debts that run-up by the business
Sole proprietorship
• An 'ordinary' partnership has no legal existence apart from the partners. If one of the
partners resigns, dies, or declares bankruptcy, the partnership must be dissolved, but
the business can continue.
• A limited partnership is made up of both ordinary
Limited Liability Partnerships must have at least two designated members; the law imposes
additional duties on them

6
Slide 9
Private Limited Companies
• Limited companies are legal entities in their own right. This means that the company's
finances are distinct from the owners' personal finances.
• A corporation can be limited by shares or by guarantee
Private Unlimited Companies
• A company is an unlimited company if its members' liability is not limited. It may or may
not have stockholders.
Public Limited Companies
• Public limited companies' (PLCs) finances are separate from the personal finances of
their members.

7
Slide 10
Various Business Organizations in Sri Lanka

Following the aforementioned business organizations will be thoroughly discussed.
1) Sole proprietorship
2) Partnerships
3) Incorporated companies
4) Cooperative Societies
5) Associations
6) State corporations
7) Departments

8
Slide 11
1. Sole proprietorship
Individually owned businesses are referred to as sole proprietorships. This is the most
common type of business organization in nearly every country on the planet. This type of
business organization is common because it is simple to establish, requires little capital,
and can make independent decisions. This company's success is dependent on the owner's
abilities and dedication.
Characteristics of sole proprietorship

Sole proprietorship has the following characteristics.
• Capital is provided by a single person, the owner;

• Profits or losses are born solely by the owner;
• The owner has unlimited liability; and
• There is no continued existence.
• Registration is not required.

9
2. Partnerships
A partnership is a relationship between two or more people who run a business together
with the goal of profit. The Partnership Ordinance of 1890 has an impact on partnerships.
Accountants, lawyers, tax officers, and doctors may also conduct their business as a
partnership.
As an example, consider a firm of chartered accountants performing audits..
Characteristics of partnerships
• The number of partners in a company.
A partnership must have at least two members and a maximum of twenty
members, according to the Companies Act No. 07 of 2007.
• Partnership Agreement
A partnership must be conducted under a written agreement if the initial capital of
the partnership is greater than Rs. 1000, according to the Prevention of Fraud
Ordinance. This written agreement is referred to as a partnership deed.
• Partners' liability is unlimited;

• Registration of a partnership is not required; and
• There is no separate legal identity.
• There is no more existence.

0
Slide 12
3. Incorporated companies
An incorporated company is a firm that is required to be registered under the Companies
Act No. 07 of 2007, has legal personality, can raise capital by issuing shares, and the
liability of the shareholders is limited. The shareholders are the companies' owners. Their
liability is limited to the amount they paid or are obligated to pay for the shares they
bought.
Characteristics of incorporated companies

• Incorporation under the Companies Act
• Continued existence
• Ability to register with limited liability
• Ability to raise capital through the issuance of shares
Pros of incorporated companies

• Ability to raise additional capital
• Legal personality
• Limited liability
• Managed by a Board of Directors

1
Cons of incorporated companies
• Increased number of legal provisions
• Profits and ownership are distributed.
4. Cooperative Societies
A cooperative society is an independent, democratically controlled organization.
Furthermore, it aims to meet the common needs of a group of individuals who have
voluntarily gathered and share a sense of collective ownership. A cooperative society can
be formed with at least ten members, with membership subscriptions providing the
majority of the capital. Furthermore, cooperative societies must be registered under the
Cooperative Societies Act No. 05 of 1972.
Example:
Sri Lanka Multi Purpose Cooperative Societies
Sri Lanka Coconut Producers' Cooperative Society
Thrift and Credit Cooperative Societies (SANASA)
Characteristics of cooperative societies

• Democratic control
• Voluntary and open membership
• Collective member ownership
• Shared expectations and needs

2
Slide 13
5. Associations
Associations are non-profit organizations that promote social well-being. These
organizations are formed primarily to promote the well-being of their members, to
perform community service, or to engage in charitable activities.
Farmer's Associations and Sports clubs are an examples.
6. State corporations
State corporations are businesses that are fully or partially owned by the government. A
government-appointed Board of Directors governs a state corporation. These businesses
will be established through a general or special act of Parliament. State corporations,
commissions, authorities, boards, and bureaus are other names for these entities.
1. Rupavahini Corporation of Sri Lanka
2. Ports Authority of Sri Lanka
3. Coconut Development Corporation.
4. Sri Lankan State Pharmaceuticals Corporation
5. Foreign Employment Bureau of Sri Lanka
6. The Export Insurance Board.
Characteristics of state corporations

• Government ownership and control

3
• Common goal of providing services in common
• Can begin under a special act or a general existing act
Pros of state corporations

• Suitable for the provision of essential services
• To reduce the monopoly effects of the private sector
• Public profits (Profits own by public)
Cons of state corporations

• Lack of independence in decision making
• Obligation to follow government financial regulations

4
Slide 14
7. Departments
State departments are institutions that will be directly and completely governed by the
government through a ministry. Departments exist to provide various services to the
general public.
Examples include the Sri Lanka Railway Department and the Sri Lanka Postal
Department.
Characteristics of state departments

• The government has ownership and control.
• In legal activities, the department head should use his designation to represent the
department.
• Persistence of existence
• Government-sponsored
Pros of state departments

• The departments provide essential services to the public that the private sector
would not otherwise provide.

5
• The departments will handle long-term development activities that require a larger
budget.
• A large number of employees work in departments that provide more job
opportunities.
• The departments provide services for the general public's well-being without
regard for profit.
Cons of departments
• Decisions will be delayed due to the approval required from Parliament and the
relevant ministry.
• The departments must carry out their activities in accordance with the provisions
of the government Financial Regulations, the Establishment Code, and various
circulars.

6
Slide 15
Pros of a sole proprietorship business.

• Easy to start
• All profits belong to the owner
• Business information is kept private
• Ability to use own skills to the fullest
• Making decisions on one's own
Cons of being a sole proprietor.

• The owner's liability is unlimited;
• Raising capital is difficult;
• There is no continuous existence;
• There is no legal personality; and
• The owner's individual decisions may be unsuccessful.

7
Slide 16
Pros of partnership businesses

• Easy to start
• Can raise more capital
• Can use different skills of partners
• Shared liability among partners
• Can make collective decisions
Cons of partnership businesses

• Unlimited liability
• Profit shared among partners
• Partner conflicts
• No continued existence
• There is no legal personality.

8
Slide 17
Pros of incorporated companies

• Ability to raise additional capital
• Limited liability
• Managed by a Board of Directors
Cons of incorporated companies

• Increased number of legal provisions
• Profits and ownership are distributed.

9
Slide 18
Pros of cooperative societies

• Democratic control
• Acting for the well-being of members
• The government provides various incentives for cooperative societies to operate
• Economic benefits shared
Cons of cooperative societies

• Limited capital
• Should only follow the cooperative policies specified

0
Slide 20
Pros of state corporations

• Suitable for the provision of essential services
• To reduce the monopoly effects of the private sector
• Public profits (Profits own by public)
Cons of state corporations

• Lack of independence in decision making
• Obligation to follow government financial regulations

1
Slide 21
Pros of state departments

• The departments provide essential services to the public that the private sector
would not otherwise provide.
• The departments will handle long-term development activities that require a larger
budget.
• A large number of employees work in departments that provide more job
opportunities.
• The departments provide services for the general public's well-being without
regard for profit.
Cons of departments
• Decisions will be delayed due to the approval required from Parliament and the
relevant ministry.
• The departments must carry out their activities in accordance with the provisions
of the government Financial Regulations, the Establishment Code, and various
circulars.

2
Slide 22
Slide 23
Slide 24

3
Question & Answer
1) Is it necessary to register the sole proprietorship's business name? Justify your

answer.
If a sole proprietorship operates under a name other than the full name of its owner, the
name of the business must be registered.
For example, if Gayan Maduwantha operates his business under the name 'Gayan Stores,'
the business name must be registered.
This is only a registration of the business name and will not provide the business with
legal personality.
2) What are the benefits of registering the business name

 Provides an identity and recognition
 Provides ownership of the business name
 Provides qualification to receive government incentives
 Loans are simple to obtain.
3) What is the legal process for registering a sole proprietorship?

The authorized officer to register business names is the Registrar of the respective
Provincial Council. The application form for registration can be obtained from the
Divisional Secretariat's office. The registration fee will be determined by the Provincial
Council in accordance with the authority granted to them. Furthermore, within 14 days of

4
starting a sole proprietorship, an application to register the business name must be
submitted.
When registering a sole proprietorship, the following steps will be taken.

01. Obtain the appropriate application form from the Divisional Secretariat office.
The following two documents must be submitted for this purpose.
 I An application form for registering a sole proprietorship's business name.
 An application form to obtain the required report from Grama Niladharee
regarding business name registration.
02. Presenting the Divisional Secretary with the certified report of the Grama Niladharee
and the duly completed application form, along with the registration fee.
03. The Divisional Secretary will issue the Certificate of Registration of Business Name
after reviewing the above documents. It is necessary to display this certificate in the
workplace.
4) How to select the business organization that suit the business idea
When putting a business idea into action, there are several factors to consider. The most
important is to choose the right type of business organization. This decision should be
based on a number of factors. They are as follows:
 Size of the business (scale)
 Nature of the business
 Legal requirements
 Liability
 Management / administration
 Continuity
 Legal status
 Capital (financial) requirements
 Personal preferences and dislikes
Slide 25

5
References
CBSL, 2021. A step by step guide to Doing Business in Sri Lanka (CBSL) Revised
Edition: 2021.
L.J.M. Cooray, 1972. An Introduction to the Legal Systems of Sri Lanka. p. page 38.
L.J.M. Cooray, 1974. The Reception of Roman-Dutch Law in Sri Lanka, The
Comparative and International Law Journal of Southern Africa. pp. 7(3), page 2.
T. Nadaraja, 1972. The Legal System of Ceylon in its Historical Setting. p. page 119.

6

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Pearson Higher Nationals

Unit 07: Business Law

Name: MAHENDRAN JEEWAPRASHAN

INTERNAL VERIFICATION – ASSESSMENT DECISIONS

Assessor Internal Verifier

Unit(s) Unit 07: Business Law

List which assessment Pass Merit Distinction

Do the assessment criteria awarded

Is the Pass/Merit/Distinction grade

Has the work been assessed

Internal Verifier signature Date

Assessor signature Date

Unit Title Unit 7: Business Law

Assignment Number 01 Assessor

LO1 Explain the nature of the legal system

Pass, Merit & Distinction P3 M2 D1

Pass, Merit & Distinction P4 P5 M3 D2

Grade: Assessor Signature: Date:

Grade: Assessor Signature: Date:

Internal Verifier’s Comments:

Signature & Date:

Feedback: Student to Assessor

Assessor signature Date

Word Processing Rules

1. I know that plagiarism is a punishable offence because it constitutes theft.

Student Name /ID Number M.Jeewaprashan

IV Name & Date

Unit Learning Outcomes:

LO1 Explain the nature of the legal system

Learning Outcomes and Assessment Criteria

Pass Merit Distinction

LO1 Explain the nature of the legal system

P1 Explain different M1 Evaluate the LO1 and LO2

LO2 Illustrate the potential impact of the law on a

P3 Using specific M2 Analyse the potential

Grading Criteria Achieved Feedback

P1 Explain different sources of law.

P2 Explain the role of government in law

P3 Using specific examples, illustrate how

P4 Explore how different types of business

Name: M.JeewaprashanBusiness Law Assignment 1 1

Name: M.JeewaprashanBusiness Law Assignment 1 2

2.3 Subordinate Legislation

2.4 Judicial Precedent

Name: M.JeewaprashanBusiness Law Assignment 1 2

Name: M.JeewaprashanBusiness Law Assignment 1 2

3.1 English Law

3.2 Roman-Dutch Law

3.3 Kandyan Law

Name: M.JeewaprashanBusiness Law Assignment 1 2

3.4 Thesawalamai Law

3.5 Muslim Special Law

Name: M.JeewaprashanBusiness Law Assignment 1 2

Getting Taxpayer Identification Number

Name: M.JeewaprashanBusiness Law Assignment 1 2

Obtaining Approval from the Board of Investment of Sri Lanka

Obtaining a Preliminary Planning Approval, Development Permit, or Certificate of

Obtaining a Water Supply Line.

Getting an Electricity Connection.

Getting a Phone/Broadband Connection

Property Registration (Deed).

Name: M.JeewaprashanBusiness Law Assignment 1 2

Getting a Bank Loan

Shares are issued and listed.