The Cabinet has approved a proposal to amend the Rent Act No.7 of 1972, which pertains to the housing sector, rented complexes and other such property transactions.
The Government said although the Rent Act was introduced with the intention of fulfilling the needs of shelter for the poor and to protect the poor tenants, the provisions of the Act are outdated.
The housing sector, rented complexes, as well as such property transactions have been intimidated with unfavourable effects.
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Therefore, it has been identified that the aforesaid Act needs to be amended to cater to the needs of the current requirements, it said.
The Government further said an interim report on the Amendment of the Rent Act has been submitted by the Legal Consultative Committee on House Rent.
Accordingly, the Cabinet has approved the proposal submitted to amend the Rent Act by including the amendments proposed by the aforesaid Committee.
The Cabinet has also granted approval to the proposal made by the Minister of Justice to advise the Legal Draftsman to prepare a Draft Bill in this regard.
source :newswire
