"It will provide a firm foundation for e-commerce transactions and give formal recognition to e-mail communications," says Jayantha Fernando, legal advisor of the ICT Agency of Sri Lanka.
"It also gives recognition to electronic signatures, and provides a structure to be established for rules to be laid down in the future."
"While we initiate efforts to focus on technological developments, the importance of ensuring parallel developments in the Legal framework is essential," says Fernando.
"Electronic commerce has considerable potential for developing countries, but the positive impact expected from it would be reduced if users were confronted with doubts as to the legal value of electronic commercial transactions after conducting costly modernisation of communication systems."
The law which was unanimously passed with minor amendment on Tuesday has to be signed by the Speaker to get legal effect.
Up to now credit card transactions have been taking place without many problems, but the uncertainty surrounding electronic transactions may have put off parties from entering into high value business to business transactions as well as slowing the growth of e-government activities.
Fernando says, most countries including India, Pakistan, Malaysia, Korea and Singapore have introduced Electronic Transaction (e-Transaction) legislation to recognise this activity based on the United Nations Commission on International Trade Law (UNCITRAL) Model Law on e-Commerce of 1996 and the Model Law on e-Signatures (2001).
Some countries have opted for a detailed rule-based legislation.
Sri Lanka however has passed a broader, simplified law with a provision to gazette rules in the future.
Autor: Asantha Sirimanne
Quelle: Lanka Business Online, 10.03.2006
