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Part III · Employees of the Central Bank

24. Employees not to accept any other office

Official English translation. The Sinhala text prevails. Open the official Sinhala text, official PDF on documents.gov.lk

(1)

The employees of the Central Bank shall devote their professional services to the Central Bank, and shall not accept or hold any other office or employment, whether public or private, or whether remunerated or not, except as a nominee of the Central Bank or for educational or academic purposes, which are not in conflict with or which will not prevent the ability of any employee to devote his professional services to the Central Bank, and are within the limits determined by the Governing Board in that regard.

(2)

The Governing Board may, at the request of any ministry, department, public international financial institution or a public corporation which is not a financial institution, temporarily release any officer of the Central

Bank with the consent of such officer, to serve any office or position in such ministry, department, public international financial institution or public corporation, subject to such terms and conditions as may be determined by the Governing

Board:

Provided, however, the temporary release of any officer of the Central Bank shall not exceed a period of five years unless the Cabinet of Ministers approves such other longer period.

(3)

Any officer of the Central Bank who is released to serve any office or position in terms of subsection (2), shall be deemed to be removed from such office or position, if such officer is removed from his office in the Central Bank under the provisions of this Act.

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

Repeals and Savings