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Declaration of Assets and Liabilities Law to be amended

Published

2 years ago

2024/03/5

Priyan

In addition to the officials and categories of individuals required to disclose their assets and liabilities as specified in the amended Declaration of Assets and Liabilities Law No. 01 of 1975 by Act No. 74 of 1988, Section 80 of the Anti-Corruption Act No. 09 of 2023 introduces provisions for further disclosure by various other officials and categories of individuals. The necessity for disclosing liabilities is emphasized.

According to this recent amendment, the President, Prime Minister, Members of Parliament, Provincial Governors, Provincial Council Members, and officers of the Provincial Public Service, elected representatives, and officers of Local Government bodies, as well as judges and government officials appointed by the President, are mandated to disclose their assets and liabilities. This requirement extends to members and officers of ministries and government departments, as well as individuals appointed under Article 41A(1)(e) of the Constitution who are not Members of Parliament.

Additionally, it applies to chairpersons or members of specified Commissions outlined in the Schedule to Article 41B of the Constitution, staff officers of the Central Bank of Sri Lanka and State Banks established under Article 41A(1)(c) of the Constitution or any relevant statute. Staff officers of independent commissions, chairpersons, commissioners, members, and staff officers of independent regulatory and supervisory commissions, or personnel boards established under any statute, along with chairpersons, directors, and members of boards of public corporations established under any statute, are also included. Furthermore, it pertains to executive officers and members of the personal staff of Members of Parliament, Provincial Council Members, and members of Local Government bodies.

Additionally, this encompasses the officers of the Sri Lanka Army, as established and governed by the Army Act (authority 357), the officers of the Sri Lanka Navy, established and governed by the Navy Act (authority 359), and the Commissioned officers of the Sri Lanka Air Force, established and governed by relevant legislation. It also includes individuals under the jurisdiction of the Election of the President Act No. 15 of 1981, the Parliamentary Elections Act No. 1 of 1981, and the Provincial Council Elections Act No. 2 of 1988 (authority 262). Furthermore, it extends to office-bearers of recognized political parties for the purposes of the Local Government Elections Ordinance or the Trade Unions Ordinance (authority 138), as well as Executive Officers of Registered Trade Unions (authority 138). Candidates nominated for election under the Local Government Polls Ordinance, as well as chairpersons, directors, and staff officers of companies registered under the provisions of the Companies Act No. 07 of 2007, where a government corporation holds at least 25% of the shares, are also covered.

Furthermore, individuals falling under specific designations such as Heads of State Missions of Sri Lanka, Officials appointed by the Cabinet to State Missions of Sri Lanka (authority 180), Proprietors, editors, and members of the editorial board of newspapers registered under Section 2 of the Newspaper Ordinance, No. 25 of 1991, Owners of media companies, editors, and members of the editorial board, office bearers of national sports associations established under the Sports Act No. 25 of 1978, and certain officials licensed under Section 17 of the Telecommunications Act of Sri Lanka, are subject to asset and liability declaration requirements due to the nature of their positions and the potential risk of bribery or corruption.

Moreover, the relevant legislation mandates the establishment of a centralized electronic system for declaring assets and liabilities. Amendments have been introduced to the declaration process to align with the provisions of the new Act until the electronic system is fully operational.

In accordance with the Anti-Corruption Act No. 09 of 2023, the Bribery or Corruption Allegations Investigation Commission has published a circular outlining the procedures for declaring assets and liabilities, along with revised declaration forms, on their website (www.ciaboc.gov.lk) on 01.03.2024. Interested parties can download the necessary documents from this date onwards.

Until further instructions are provided, the Commission to Investigate Allegations of Bribery and Corruption urges concerned officials to promptly submit their asset and liability declarations as per the guidelines outlined in the aforementioned circular.

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USS Canberra makes port call in Colombo

Published

2 hours ago

2026/06/12

Priyan

The United States Navy’s USS Canberra (LCS 30) arrived at the port of Colombo for replenishment purposes on 12 Jun 26.

The visiting ship was welcomed by the Sri Lanka Navy
in compliance of naval traditions.

USS Canberra, a Littoral Combat Ship, is commanded by Commander J McLaughlin.

Business

Committee appointed for restructuring SriLankan Airlines

Published

3 hours ago

2026/06/12

Priyan

The Cabinet of Ministers has approved the appointment of a Committee, chaired by Senior Presidential Advisor on Digital Economy Dr. Hans Wijayasuriya, to conduct a strategic review and restructuring of SriLankan Airlines.

The other members of the committee are as follows:

• Senior Presidential Economic Advisor Duminda Hulangamuwa

• Financial and corporate strategy expert Deshal De Mel

• Transaction and investment banking, mergers and acquisitions expert Dumith Fernando

• The Secretary to the Ministry of Finance or his Representative

• The Secretary to the Ministry of Transport, Highways and Urban Development / a representative of the Civil Aviation Authority

• The Chairman of SriLankan Airlines

• Legal experts with specialised knowledge in corporate, aviation and public law

• Aviation industry experts to be appointed

The Government has recognised the urgent priority of undertaking a comprehensive strategic review of SriLankan Airlines, taking into account the broader macroeconomic context.

The main objective of this exercise is to establish a financially sustainable and commercially efficient national carrier, while reducing the long-term fiscal burden on the Government.

Accordingly, it has been deemed appropriate to establish a dedicated committee to carry out the strategic review and restructuring process in collaboration with the International Finance Corporation (IFC), which is serving as the Transaction Advisor.

The committee will be responsible for:

• Conducting an independent review and assessment of the airline’s strategic direction and future course of action

• Recommending restructuring requirements and possible restructuring models

• Evaluating specific strategic options and identifying the most suitable course of action aligned with the Government’s overall objectives

• Providing oversight, guidance and support for the implementation of the selected strategy and execution framework determined by the Government

The committee will function for the duration of the strategic review and restructuring process, or until it is formally dissolved by the Government of Sri Lanka.

(PMD)

Latest News

Kane Williamson retires from international cricket

Published

3 hours ago

2026/06/12

Priyan

Kane Williamson is one of only three players to score more than 15,000 international runs for New Zealand [BBC]

Former New Zealand captain Kane Williamson has retired from all international cricket with immediate effect.

The 35-year-old featured in the first Test against England at Lord’s, registering a duck and 18, but will play no further part in the three-match series, which will resume at The Oval on 17 June.

Williamson retires as New Zealand’s leading all-format run-scorer, with 19,346 runs, including 48 centuries and six double-hundreds, in 378 appearances between 2010 and 2026.

As the Black Caps’ most prolific Test batter, he scored 9,515 runs at an average of 54.06, including 33 centuries, in 110 matches.

Williamson captained New Zealand on 206 occasions between 2012 and 2024, leading the side through their golden period when they won the inaugural World Test Championship in 2021 and reached the finals of the 2019 World Cup and 2021 T20 World Cup.

Explaining his decision, Williamson, who retired from T20Is in November, said: “I’ve thought about it for a while, but over the last few days it’s become clear now is the right time.

“I’ve always felt a strong drive and hunger for international cricket, and I take pride in knowing I’ve given it my all in every match I’ve played for New Zealand.

“Continuing with anything less wouldn’t be right and I feel fortunate to step away on my own terms.

“I leave feeling optimistic about where this group is heading. There’s a huge amount of talent, and a real desire to do something special with this New Zealand team.

“It’s a team I love, and I feel incredibly fortunate to have been part of it for so long. It will continue to be dear to my heart.”

Head coach Rob Walter paid tribute to Williamson’s “legacy” and impact on the Black Caps, stating he will “remain embedded in its DNA”.

“Anyone who’s had the privilege of working with Kane understands he is a very special player and person,” Walter said.

“His numbers and batting skills speak for themselves, but it’s what he means to this Black Caps team, as well as world cricket – that will be his legacy.

“His impact on the culture and standards of this team will remain embedded in its DNA.

“Kane’s always put the team first and although we’re disappointed to see him go, we’re happy to know he’s content and at peace with his decision.

“An incredible player, awesome team-mate, a wonderful leader and a fantastic ambassador for our sport.”

Former New Zealand all-rounder Sir Richard Hadlee described Williamson as a “wonderful player” and an “unflappable leader”, who was the “architect of some our of greatest moments in cricket”.

[BBC]