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Contents

Part XVI · Financial Provisions

94. Reserve accounts

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

(1)

The Central Bank shall establish and maintain a general reserve account.

(2)

The general reserve account shall not be used for any other purposes, except for the purposes of transferring to retained earnings if it becomes negative.

(3)

The Central Bank shall establish special reserve accounts to record unrealized gains and losses arising from exchange rates and unrealized gains arising from market price revaluation due to its positions in foreign currencies, gold, financial instruments, and other financial assets recorded in the income statement in line with the internationally recognized financial reporting framework as approved by the Governing Board, prior to distribution of profits.

Part XVII

Internal and External Audits

Part XVIII

General Provisions

Part XIX

Repeals and Savings