Company Name in Sri Lanka

Company Name in Sri Lanka

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The Company Name

If one wishes to start his/her own business and wants to build it up as a Business Legal Entity will have to register their Company in order to get more validity. When it comes to Company Registration, deciding a suitable Name for the Company is important, this might seem confusing at times. This Blog will help you to get to know about the importance of a Company Name.

What is a Company Name?

Every Company needs to have a Specific Name which differs from other Company Names. In accordance with the New Companies Act No. 07 of 2007, giving approval for a Specified Company Name is a duty of the Department of Registrar of Companies.

The requirement of a Company Name

Private Limited Company shall end in the words “(Private) Limited” or by the abbreviation “(Pvt) Ltd”

Public Notice of Company Name

Public Notice is another important thing with regard to Company Name. With the Incorporation of a new Company, the name should be published in Sinhala, English and Tamil Newspapers and Government Gazette. It should be done within 30 working days in the event of incorporation of the Company. Company Name, Registration Number and Company Registered Address are the requirements of this publication.

Importance of the Company Name

Company Name can be used in various ways, for instance: in

  • All Business Letters of the Company
  • All notices and official publications of the Company
  • All Bills of exchanges, Promissory notes, endorsements, cheques and orders for money or good sign on behalf of the Company.
  • All invoices, receipts and letters credit of the Company
  • All other documents issued or signed by the Company which create or is evidence of a legal obligation of the Company; and
  • The Company Seal if any.

Change of a Company Name

When the Company needs to Change their Name, they have to pass a special resolution. Then within ten working days of passing this resolution, the Notice of Change with the Form 3 (along with the consent letter of the subject clerk who is handling the Company file at ROC) should be submitted to the Department of Registrar of Companies. You can then have a fresh Certificate of Incorporation which indicates the New Name of the Company.

Restrictions on Deciding the Company Name

When deciding a Company Name, You have to face some restrictions provided by the Companies Act No. 07 of 2007

  • Cannot use Similar Name of any other Company or any registered overseas Company.
  • Cannot use “ Chamber of Commerce” (unless the Company is a company which is to be registered under a licence granted under section 34 without the addition of the word “Limited”)
  • Cannot use a Misleading Name
  • Cannot use words of “President”, “Presidential” or Words which are connected with the President or, Sri Lanka Government or Government departments.
  • Cannot use words of “Municipal”, “incorporated” or words which are connected with any Municipality, Local Authority, Society or Body incorporated by an Act of Sri Lankan Parliament.
  • Cannot use words of “ Co-operative” or “Society”
  • Cannot use words of “National”, “State” or “Sri Lanka” or Words which are connected with Sri Lankan Government or Government departments.
  • Following words shall be disregarded by the Department of Registrar of Companies, if you use the following words in Your Company Name