It also expects to include provisions in the constitution to declare specific time-frames for the conduct of all elections.
At present, the elections are held in a scattered manner and are based on proportional representation, but a new system will be a combination of PR and first-past-the-post systems.
Talks are presently under way to decide on these changes.
Delimitation work for LG polls is now complete while parliamentary and PC polls too, will have delimitation done anew.
Since holding a referendum on a new constitution has become a debatable issue, SLFP seniors have proposed to the president that the new electoral system should first be introduced as a constitutional amendment.
The steering committee of the constitutional assembly is yet to receive the suggestions of either the president or the SLFP.
The 52nd discussion of the 20-member committee last week was attended by its chairman, prime minister Ranil Wickremesinghe only.