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As enacted
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Contents

Part V · Proceeds of Crime Management authority

112. Funds of the Authority

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

(1)

The Authority shall have the following funds:-

(a)

Management and Administration fund of the

Authority;

(b)

Fund for the Protection, Preservation and

Management of Proceeds of Crime.

(2)

There shall be credited to the Management and

Administration fund of the Authority:-

(a)

all sums of money as may be voted from time to time by Parliament, for the use of the Authority;

(b)

all sums of money as may be remitted to the

Fund by courts of law; and

(c)

all such sums of money as may be received by the Authority by way of loans, grants, gifts, bequests or donations from any source whatsoever whether within or outside Sri Lanka.

(3)

There shall be credited to the Fund for the Protection,

Preservation and Management of Proceeds of Crime:-

(a)

all sums of money as may be remitted to the

Fund by courts of law;

(b)

all sums of money as may be voted from time to time by Parliament, for the use of the Authority;

and

(c)

all sums of money that may be received by the

Authority for the protection, preservation and management of proceeds of crime.

(4)

There shall be paid out of the Management and

Administration fund of the Authority -

(a)

all such sums of money as are required to meet any expenditure for the discharge of the functions of the Authority including expenditure pertaining to its day-to-day functioning;

(b)

all such sums of money as required for the payment of salaries, allowances, compensation, fees and other payments of the Board and the

Chief Executive Officer, officers and employees and other persons whose services have been obtained on contractual basis; and

(c)

any other payments authorized by the Board.

(5)

There shall be paid out of the Fund for the Protection,

Preservation and Management of Proceeds of Crime -

(a)

all such sums of money as are required to discharge functions entrusted to the Authority by this Act or any other written law and by orders of a court of law pertaining to the protection, preservation, and management of proceeds of crime and matters associated therewith, including payments to be made to persons who have provided specific services relating to such protection, preservation and management;

(b)

on the recommendation of the Chief Executive

Officer with the approval of the Board a sum of money which shall not exceed twenty five per centum of the annual expenditure required for the functioning of the Authority; and

(c)

any other payments authorized by the Board including sums of money necessary to –

(i)

provide training to the Designated Officers and the Investigation Officers;

(ii)

provide training to legal officers and other

Attorneys-at-law who provide professional services to achieve the objectives and functions of this Act;

(iii)

procurement of equipment and programs that may be necessary for the tracing, search, identification and examination of proceeds of crime;

(iv)

the payment of professional fees payable to experts who may be contracted by the

Designated Officers for the purpose of conducting cash flow tracing, financial analysis, and tracing proceeds of crime;

(v)

programs necessary to create awareness regarding the provisions of this Act; and

(vi)

contingent upon successful forfeiture of proceeds of crime, to be credited to the Police reward fund established under section 73 of the Police Ordinance (Chapter 53) to be used for the payment of rewards to Investigation

Officers, other personnel who have assisted in the conduct of the investigation and informants in terms of a scheme formulated by the Inspector General of Police, and

(vii)

contingent upon successful forfeiture of proceeds of crime, to be credited to a reward fund to be established by the Commission to Investigate Allegations of Bribery or

Corruption to be used for the payment of rewards to Investigation Officers, other personnel who have assisted in the conduct of the investigation and informants in terms of a scheme formulated by that Commission.

(6)

Where any money is received by way of loans, grants, gifts, bequests or donations, by the Authority the source and the purpose for which such loans, grants, gifts, bequests or donations were made available to shall be made public by the Authority by publishing such receipts in the official website of the Authority within one month of such receipt.

(7)

The Chief Executive Officer with the ratification of the

Board shall make plans and related guidelines pertaining to investment, management and payment of moneys out of the

Management and Administration fund of the Authority and the Fund for the Protection, Preservation and Management of Proceeds of Crime.

(8)

The annual report of the Authority shall include the annual audited statement of accounts which shall include all sums of money received by the Authority including sources of funds.

Read on from s 113

Part VI

Forfeiture of Frozen Proceeds of Crime And Related Proceedings

Read on from Part VI

Part VII

Civil Remedy For Victims Of Crime

Read on from Part VII

Part VIII

Disposal Of Forfeited Proceeds Of Crime And The Utilization Of The Value Derived Thereof

Read on from Part VIII

Part IX

Victims Of Crime Reparation Trust Fund

Read on from Part IX

Part X

International Cooperation

Read on from Part X

Part XI

Miscellaneous Provisions

Read on from Part XI

Schedules