Public Enterprises Act, 2023 (Act 6 of 2023).

This Act provides for governance, operations, performance monitoring and financial oversight of public enterprises. Section 5 states that the Public Enterprises Monitoring Commission (Commission) established under section 5 of the Public Enterprises Monitoring Commission Act, 2013 shall continue as if established under this Act. Section 6 lays down the objects of the Commission. The Act makes provisions in respect of the funds of the Commission, its relation with other regulatory authority, appointment of commissioners and CEO, functions and powers of the Commission and reporting obligations. The Minister may direct the Commission to investigate any matter relating to affairs of a public enterprise and the powers of investigators are laid down. The Minister may, by order published in the Gazette, declare a statutory corporation to be a public enterprise. The Act also contains provisions in respect of governance of public enterprises including the Board of Directors, Annual General Meetings, shareholding, protection of assets, reporting, and enforcement powers of the Commission.