Proceeds of Crime Act 2025 · As enacted · Part V · Proceeds of Crime Management authority
97. Duties, Functions and Powers of the Authority
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
The Authority shall have the duties, functions and powers vested in Receivers and Special Managers by this Act with regard to the protection, preservation and management of proceeds of crime.
The Authority shall perform the duties, discharge the functions and exercise the powers vested in a Receiver or in a Special Manager by any other written law, if in terms of such law or in terms of a judicial order made in terms of such law, the Authority is vested with the function of a Receiver or Special Manager under such other law for the protection, preservation and management of proceeds of crime.
The Authority shall have the duty to give effect to any order issued on the Authority by a court of law.
When appointed as a Receiver or as a Special Manager by the High Court, the Authority shall have the functions, powers, and duties of a Receiver or a Special Manager as contained in this Act.
When appointed as a Receiver or as a Special Manager by any court of law in terms of any other written law, the
Authority shall have the functions, powers, and duties of such Receiver or Special Manager as contained in such other written law.
The Authority shall maintain records and statistics of the discharge of its functions.
The Authority shall within the first six months of the following year present to Parliament through the Minister an annual report relating to its performance during the preceding year. The Authority shall publish such annual report in its website.
The Authority in consultation with the Police
Designated Officer and the Designated Officer of the
Commission to Investigate Allegations of Bribery or
Corruption shall, from time to time, stipulate the minimum monetary value of any proceeds of crime that shall be subject to a seizure or judicial freezing.
The Authority shall from time to time develop and issue to Designated Officers Standard Operating Protocols to facilitate the protection, preservation and management of seized proceeds of crime by Investigation Officers.
The Authority shall have the powers to-
hold any property movable or immovable that may become vested in the Authority by virtue of any purchase, grant, gift or otherwise and sell, mortgage, lease, grant, assign, exchange or otherwise dispose of the same;
borrow or raise funds with or without securities and to receive grants, gifts or donations in cash or kind:
Provided that, the Board of Directors of the
Authority shall obtain the prior written approval of the Department of External Resources of the
Ministry of the Minister assigned the subject of
Finance, in respect of all foreign grants, gifts or donations made to the Authority;
enter into and execute, whether directly or through any officer or agent authorized in that behalf by the Board of Directors of the Authority, all such contracts or agreements as may be necessary, for the discharge of the functions of the Authority;
open, operate and maintain and close any account in any bank as the Board of Directors of the Authority may approve;
appoint, dismiss or terminate and exercise disciplinary control over officers and employees of the Authority;
make rules for the administration of the affairs of the Authority; and
determine the terms and conditions of service and the remuneration payable to the officers, employees, agents, contractors, consultants and experts so appointed with the concurrence of the
Minister assigned the subject of Finance.
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