Reforming the Enforcement of Directors' Duties in Sri Lanka: Adopting Australia's Civil Penalty Regime
Authors
1MICLaw (The University of Queensland, Australia-In campus), LLM (General Sir John Kotelawala Defence University Sri Lanka), Bsc. (Wayamba University of Sri Lanka), Legal officer, Department of Legal Affairs, Ministry of Finance, Planning and Economic Development, Attorney-at-Law, Notary Public, Company Secretary, Commissioner for Oaths (Sri Lanka)
Article Information
DOI: 10.47772/IJRISS.2026.10100158
Subject Category: Social science
Volume/Issue: 10/1 | Page No: 1967-1976
Publication Timeline
Submitted: 2026-01-13
Accepted: 2026-01-18
Published: 2026-01-28
Abstract
This article evaluates the effectiveness of the criminal penalty regime governing directors’ duties in Sri Lanka and considers whether the adoption of Australia’s civil pecuniary penalty regime would provide a more effective and proportionate enforcement mechanism. The article examines the theoretical foundations of responsive regulation, analyzes the Australian experience with civil penalties over three decades and proposes a framework for implementing similar reforms in Sri Lanka.
Keywords
Directors’ Duties Enforcement, Civil Penalty Regime, Responsive Regulation
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