Central Bank of Sri Lanka Act 2023 · As enacted · Part II · Governing Board, Monetary Policy Board, Governor and Deputy Governors
14. Powers of the Governor and the Deputy Governors of the Central Bank
Official English translation. The Sinhala text prevails.
Official translationFrom Department of Government Printing, unchanged
The Governor of the Central Bank shall be the
Chief Executive Officer and the principal representative of the Central Bank.
The Governor of the Central Bank, in consultation with the Deputy Governors, shall be responsible for-
the day-to-day operations of the Central Bank; and
implementing policy decisions of the Governing
Board and the Monetary Policy Board.
The Governor of the Central Bank shall discharge such other functions of the Central Bank expressly assigned to the Governor of the Central Bank by the Governing Board or the Monetary Policy Board.
The Governor of the Central Bank shall have the authority to sign any rule, order, direction, notice, contract, promissory note, security, report, balance sheet, statement, or such other document on behalf of the Central Bank.
The Governor of the Central Bank shall devote his full professional time to the business of the Central Bank.
The Governor of the Central Bank shall not accept or hold any other office or employment whatsoever, whether public or private, and whether remunerated or not.
The Governor of the Central Bank may delegate any of his powers, duties and functions to the Senior Deputy
Governor of the Central Bank, or with the concurrence of the Governing Board to any other Deputy Governor of the
Central Bank.
Where the Governor of the Central Bank is temporarily absent from duty or is temporarily unable to exercise, perform and discharge his powers, duties and functions, the Senior Deputy Governor of the Central Bank designated in terms of subsection (8) of section 15 shall act as the Chief Executive Officer of the Central Bank and shall have authority to exercise, perform and discharge the powers, duties and functions of the Governor of the Central Bank.
Where both the Governor of the Central Bank and the Senior Deputy Governor of the Central Bank are temporarily absent from duty or are temporarily unable to exercise, perform and discharge their powers, duties and functions, the Governing Board shall appoint a Deputy
Governor of the Central Bank to act as the Chief Executive
Officer of the Central Bank.
The Deputy Governor of the Central Bank appointed under subsection (9) shall be designated as the acting Chief Executive Officer of the Central Bank.
Where the Governor of the Central Bank vacates or ceases to hold office for any reason, the Senior
Deputy Governor of the Central Bank designated in terms of subsection (8) of section 15 shall act as the Chief Executive
Officer of the Central Bank.
Where the Senior Deputy Governor of the Central
Bank referred to in paragraph (a) is unable to act as the Chief
Executive Officer for any reason, the acting Chief Executive
Officer designated in terms of subsection (10) shall act as the Chief Executive Officer of the Central Bank.
The office of the Governor of the Central Bank shall not remain vacant for a period of more than forty-five days.
Part III
Employees of the Central Bank
Part IV
Inflation Target
Part V
Monetary and Other Operations
Part VI
Foreign Exchange Operations and International Reserves
Part VII
Currency and Legal Tender
Part VIII
Payment and Settlement Systems
Part IX
Supervision and Resolution of Financial Institutions
Part X
Macroprudential Authority
Part XI
Financial System Oversight Committee
Part XII
Information Exchange with Financial Sector Authorities
Part XIII
Statistics and Information
Part XIV
Relationship with the Parliament, the Government and the Public
Part XV
Credit Operations
Part XVI
Financial Provisions
Part XVII
Internal and External Audits
Part XVIII
General Provisions
Part XIX