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As enacted
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Contents

Part VI · Annual Reporting to Parliament

25. Annual report of the Office to Parliament

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

(1)

The Office shall for each year prepare an annual report on Government borrowings and other debt management operations, outstanding public debt, guarantees and on-lending activities and other finance arrangements entered into over the previous financial year.

(2)

The annual report shall include –

(a)

information on the strategy referred to in section 11 and its rationale;

(b)

information on the contribution of the strategy and the borrowing plan, their execution in achieving the debt management objectives as stated in section 3 and the rationale for any deviations;

(c)

debt disbursements and related debt services of the Government presented including by type of creditor and instrument;

(d)

a list of the outstanding loan guarantees of the

Government, issued to Provincial Councils, local authorities, State owned enterprises and any other entity including the amount;

(e)

a list of loans on-lent including outstanding amounts;

(f)

outstanding supplier’s credit agreements and finance lease agreements which comes under the purview of the Office including the financial terms of those contracts;

(g)

information on any debt service arrears of the

Government; and

(h)

any other information related to public debt management.

(3)

The Minister shall review the draft annual report and submit it to the Cabinet of Ministers for its approval and table the approved annual report before Parliament not later than hundred and eighty days following the end of the preceding financial year and publish such approved annual report in the official websites of the Ministry of Finance and the Office.

Part VII

Borrowing and Issuance of Guarantees by State Owned Enterprises and Reporting by Provincial Councils, Local Authorities and State Owned Enterprises

Read on from Part VII

Part VIII

Offences and Penalties

Read on from Part VIII

Part IX

General

Read on from Part IX