As enacted

Contents

Central Bank of Sri Lanka Act 2023 · As enacted · Part I · Establishment of the Central Bank

5. Autonomy and accountability of the Central Bank

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

(1)

The Central Bank shall have administrative and financial autonomy.

(2)

The Central Bank shall be autonomous and accountable.

(3)

The autonomy of the Central Bank shall be respected at all times and no person or entity shall cause any influence on the Governor of the Central Bank or other members of the Governing Board and Monetary Policy Board or employees of the Central Bank in the exercise, performance and discharge of their powers, duties and functions under this Act or interfere with the activities of the

Central Bank.

(4)

Except in the exercise, performance and discharge of the powers, duties and functions under this Act, the

Governor of the Central Bank or other members of the

Governing Board and Monetary Policy Board, employees of the Central Bank or any person authorized by the Central

Bank shall not seek or take instructions from any person:

Provided however, nothing in this section shall prevent the Central Bank from seeking professional or expert advice to effectively exercise, perform and discharge its powers, duties and functions under this Act or any other written law.

Read on from s 6

Part II

Governing Board, Monetary Policy Board, Governor and Deputy Governors

Read on from Part II

Part III

Employees of the Central Bank

Read on from Part III

Part IV

Inflation Target

Read on from Part IV

Part V

Monetary and Other Operations

Read on from Part V

Part VI

Foreign Exchange Operations and International Reserves

Read on from Part VI

Part VII

Currency and Legal Tender

Read on from Part VII

Part VIII

Payment and Settlement Systems

Read on from Part VIII

Part IX

Supervision and Resolution of Financial Institutions

Read on from Part IX

Part X

Macroprudential Authority

Read on from Part X

Part XI

Financial System Oversight Committee

Read on from Part XI

Part XII

Information Exchange with Financial Sector Authorities

Read on from Part XII

Part XIII

Statistics and Information

Read on from Part XIII

Part XIV

Relationship with the Parliament, the Government and the Public

Read on from Part XIV

Part XV

Credit Operations

Read on from Part XV

Part XVI

Financial Provisions

Read on from Part XVI

Part XVII

Internal and External Audits

Read on from Part XVII

Part XVIII

General Provisions

Read on from Part XVIII

Part XIX

Repeals and Savings

Read on from Part XIX