The National Lotteries Board Act is amended after 62 years

The government has taken steps to reform the legal framework for regulating the lottery industry in Sri Lanka to suit the present day. The set of laws established under the currently active Finance Act No. 11 of 1963 will be amended for this purpose.

The need to amend this Act, which is over sixty years old, had been recognized for a long time, and approval was first granted in 2017 to draft a new Act.

Accordingly, the National Lotteries Board has proposed to add further amendments to the preliminary draft bill prepared by the Legal Draftsman. The main objective of the new Act is to streamline the operations of the Lotteries Board to suit the current market trends and requirements.

Approval has been granted to a proposal submitted to the Cabinet by the President as the Minister of Finance. Accordingly, steps will be taken to instruct the Legal Draftsman to expeditiously prepare the new draft bill, incorporating all proposed amendments.