Public Financial Management Act 2024 · As enacted
1. Short title and date of operation
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
This Act may be cited as the Public Financial
Management Act, No. 44 of 2024.
All the provisions of this Act other than the provisions specified in subsection (3), shall come into operation on the date on which the Bill becomes an Act of Parliament.
The Minister of Finance shall for the implementation of the provisions specified in paragraphs (a) and (b) of this subsection, appoint such date or dates by Order published in the Gazette -
the date or dates from which the provisions of paragraph (f) of subsection (5) of section 11, subsection (1) of section 17, paragraph (b) of subsection (2) of section 18, section 36 and paragraph (a) of subsection (1) of section 47 shall come into operation:
Provided that, the provisions of paragraph (f)
of subsection (5) of section 11 shall come into operation on a date not later than thirtieth day of
June 2025; and
the date from which the provisions of subsection (2) of section 34 shall apply in respect of the entities specified in subparagraph (ii) of paragraph (a) of subsection (2) of section 3.
Part I
Application of the Act
Part II
Powers, Duties and Functions of the Minister of Finance and Other Authorities
Part III
Fiscal Responsibility
Part IV
Preparation and Approval of Annual Budget
Part V
Adjustments to the Annual Budget During the Year
Part VI
Budget Execution
Part VII
Financial Management
Part VIII
Statutory Funds
Part IX
Public Investment Management
Part X
Government Borrowings and Guarantees
Part XI
Accounting and Reporting
Part XII
State Owned Enterprises
Part XIII
Provincial Councils and Local Authorities
Part XIV
Cadre Management
Part XV
Offences and Penalties
Part XVI
Miscellaneous Provisions
Part XVII
Repeals
Part XVIII