Govt. adds more people for asset and liability disclosure requirements

Wednesday, 6 March 2024 00:32 - - {{hitsCtrl.values.hits}}

New amendment to Declaration of Assets and Liabilities Law introduced under Section 80 of Anti-Corruption Act No. 09 of 2023 expands disclosure requirements
Aims to promote transparency, combat corruption, encourage good governance
Bribery or Corruption Allegations Investigation Commission issues circular with declaration procedures and revised forms; all urged to submit declarations promptly

The Government has implemented a new amendment to the Declaration of Assets and Liabilities Law No. 01 of 1975, enacted via Act No. 74 of 1988, expanding the range of individuals required to disclose their assets and liabilities.

The amendment, introduced under Section 80 of the Anti-Corruption Act No. 09 of 2023, underscores the importance of transparency and accountability in public service and aims to promote transparency, combat corruption and encourage good governance in the country.

The updated legislation now requires a broader range of officials and categories of individuals to disclose their financial information. Notably, this includes high-ranking Government officials such as the President, Prime Minister, Members of Parliament, Provincial Governors, and Provincial Council Members. Additionally, officers of the Provincial Public Service, elected representatives, and officers of Local Government bodies are also subject to these disclosure requirements.

Furthermore, judges, Government officials appointed by the President, members and officers of ministries and Government departments, and individuals appointed under Article 41A(1)(e) of the Constitution must adhere to the new disclosure provisions.

The mandate extends to various commissions, including those outlined in the Schedule to Article 41B of the Constitution, as well as staff officers of the Central Bank of Sri Lanka and State Banks. Independent commissions, regulatory bodies, supervisory commissions, and personnel boards established under statutes are also covered.

In addition, the requirement encompasses military personnel, election officials, office-bearers of political parties and trade unions, candidates nominated for elections, and individuals associated with media companies, newspapers, and telecommunications. To facilitate the declaration process, the legislation mandates the establishment of a centralised electronic system. Until the electronic system is fully operational, amendments have been introduced to streamline the declaration process in line with the provisions of the new Act.

In compliance with the Anti-Corruption Act No. 09 of 2023, the Bribery or Corruption Allegations Investigation Commission has issued a circular outlining the procedures for declaring assets and liabilities. Revised declaration forms are available for download on their website (www.ciaboc.gov.lk) starting from 1 March 2024.

The Commission urges all concerned officials to promptly submit their asset and liability declarations as per the guidelines provided in the circular, until further instructions are provided.