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ECONOMYNEXT – Sri Lanka’s new Knowledge Safety Authority has come into operation following a gazette issued by President Ranil Wickremesinghe in his capability as Minister of Expertise.
A gazette notification dated July 19 stated that provisions of half V of the Private information Safety act, No. 9 of 2022 comes into operation from July 17 onwards.
“By advantage of the powers vested in me by Subsection (5) of Part 1 of the Private information Safety act, No. 9 of 2022, learn with paragraph (3) of article 44 of the Structure of the democratic Socialist republic of Sri lanka, I, Minister of Expertise, Ranil Wickremesinghe, do by this Order, appoint July 17, 2023 because the date on which the provisions of Half V of the aforesaid act shall come into operation,” the gazette signed by President Wickremesinghe stated.
Half V of the act offers with the institution of a Knowledge Safety Authority, first proposed in November 2022.
Part (1) of Half V reads: “There shall be established an authority which shall be known as the Knowledge Safety Authority of Sri Lanka for the needs of this Act.
Part (2) reads: “The Authority shall, by the title assigned to it by subsection (1), be a physique company and shall have perpetual succession and a typical seal and should sue and be sued in such title.”
Wickremesinghe informed parliament in November that the federal government would take steps to arrange the Knowledge Safety Authority in 2023 and the physique can be impartial and engaged with the Central Financial institution of Sri Lanka, Securities and Change Fee, Telecommunications Regulatory Fee (TRCSL) and all related sectoral regulators to make sure a correct governance of non-public information.
Sri Lanka parliament enacted the Knowledge Safety Act aiming to advertise a digital financial system amid issues raised over the privateness of people and hostile affect on media reporting on March 10, 2022
The invoice was handed with no vote after a raft of amendments was made to the unique model.
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