Proceeds of Crime Act 2025 · As enacted · Part II · Investigation Into Proceeds of Crime, Restraint And Seizure
69. Explanatory statement
Official English translation. The Sinhala text prevails. Open the official Sinhala text, official PDF on documents.gov.lk
Official translationFrom Department of Government Printing, unchanged
Upon receipt of a notice under section 68, it shall be the duty of the person who receives such notice to not later than three working days from the receipt of such notice provide a true and descriptive response thereto (referred to in this Act as the ‘explanatory statement’) in writing in the form of a sworn or affirmed statement:
Provided however, the person to whom the Notice is served, may for sufficient reasons to be given to the
Investigation Officer, seek in writing, and where such reasons are found to be bona fide, obtain a further extendable period which shall not exceed a period of fourteen days for the submission of the explanatory statement:
Provided further, the Investigation Officer may in such circumstances issue a restraining order, in addition to other circumstances in which a restraining order may be issued under this Act for the purpose of ensuring that the objectives of this Act are not defeated, which shall be valid only for a period of seventy-two hours from the time the explanatory statement is received by him.
Upon receipt of the explanatory statement, the
Investigation Officer shall consider and determine whether reasonable grounds exists that the property being investigated into is proceeds of crime. For such purpose where necessary, he may conduct further investigations which shall include interviewing and recording a statement of the person who submitted the explanatory statement and statements of such other and further persons.
Where a notice under section 68 is to be served on a sole proprietorship, the notice shall be served on the proprietor. It shall be the duty of such proprietor to respond to such notice in the manner provided herein before.
Where notice under section 68 is to be served on a partnership the notice shall be served on any partner thereof and it shall be the duty of such partner to respond to such notice in the manner provided hereinbefore. Following compliance with such notice such partner shall obtain a memorandum signed by all partners of the partnership, ratifying the contents of the explanation provided or setting out their individual explanation, and submit it to the Investigation Officer within three weeks. It shall be the duty of all partners of a partnership to either ratify the afore-stated memorandum or provide to the relevant Investigation
Officer his own explanation.
Where notice under section 68 is to be served on an unincorporated body of persons, the notice shall be served on a principal office bearer or in the absence of such officer on any other office bearer thereof and it shall be the duty of such office bearer to respond to such notice in the manner provided herein before. Following compliance with such notice such office bearer shall obtain a memorandum signed by all office bearers of the unincorporated body of persons ratifying the contents of the explanation provided or setting out their individual explanation, and submit it to the Investigation Officer within three weeks. It shall be the duty of all office bearers to either ratify the afore-stated memorandum or provide to the relevant Investigation Officer his own explanation.
Where notice under section 68 is to be served on an incorporated body of persons, the notice shall be served on the
Managing Director or in his absence any Director thereof and it shall be the duty of such Director to respond to such notice in the manner provided herein before. Following compliance with such notice such Director shall obtain a memorandum signed by the Board of Directors of the incorporated body of persons ratifying the contents of the explanation provided or setting out their individual explanation and submit it to the investigation officer within three weeks. It shall be the duty of all Directors to either ratify the afore-stated memorandum or provide to the relevant Investigation Officer his own explanation.
Part III
Judicial Freezing of Proceeds of Crime
Part IV
Protection, Preservation and Management of Proceeds of Crime
Part V
Proceeds of Crime Management authority
Part VI
Forfeiture of Frozen Proceeds of Crime And Related Proceedings
Part VII
Civil Remedy For Victims Of Crime
Part VIII
Disposal Of Forfeited Proceeds Of Crime And The Utilization Of The Value Derived Thereof
Part IX
Victims Of Crime Reparation Trust Fund
Part X
International Cooperation
Part XI