As enacted

Contents

Public Financial Management Act 2024 · As enacted · Part V · Adjustments to the Annual Budget During the Year

24. Virement procedure

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

(1)

Transfer of an allocation within a Head of

Expenditure in annual Appropriation Act shall be in compliance with the provisions in such Appropriation Act, subject to the provisions of subsections (2), (3) and (4) of this section (hereinafter referred to as the “Virement

Procedure”).

(2)

Transfer of unexpended budget allocation shall not be allowed –

(a)

from one Head of Expenditure to another Head of

Expenditure; or

(b)

from capital expenditure to recurrent expenditure.

(3)

Restrictions on the use of virement procedure in addition to those specified in subsection (2) shall as may be prescribed.

(4)

The transfer of allocation using the virement procedure, if any, effected by all budgetary entities shall be reported to the Parliament within six months from the date of the said transfer by the Minister of Finance. Procedures of such reporting shall as may be prescribed.

Read on from s 25

Part VI

Budget Execution

Read on from Part VI

Part VII

Financial Management

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Part VIII

Statutory Funds

Read on from Part VIII

Part IX

Public Investment Management

Read on from Part IX

Part X

Government Borrowings and Guarantees

Read on from Part X

Part XI

Accounting and Reporting

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Part XII

State Owned Enterprises

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Part XIII

Provincial Councils and Local Authorities

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Part XIV

Cadre Management

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Part XV

Offences and Penalties

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Part XVI

Miscellaneous Provisions

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Part XVII

Repeals

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Part XVIII

Interpretation

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