View All - 2023 Acts
Section No :  
Acts & Ordinances
Marginal Notes
1. Short title and date of operation
2. Establishment of the Central Bank
3. Principal place of business
4. Capital of the Central Bank
5. Autonomy and accountability of the Central Bank
6. Objects of the Central Bank
7. Powers, duties and functions of the Central Bank
8. Governing Board of the Central Bank
9. Meetings of the Governing Board
10. Confidentiality of proceedings of the Governing Board
11. Monetary Policy Board
12. Composition of the Monetary Policy Board
13. Meetings of the Monetary Policy Board
14. Powers of the Governor and the Deputy Governors of the Central Bank
15. Appointment of the Governor and other appointed members and the Senior Deputy Governor of the Central Bank
16. Term of office of the Governor of the Central Bank and an appointed member
17. Eligibility and disqualifications of the Governor and other appointed members and Deputy Governors of the Central Bank
18. Resignation from office
19. Disqualifications and removal from office
20. Restriction on subsequent actions
21. Remuneration
22. Codes of conduct
23. Appointment and removal of employees of the Central Bank
24. Employees not to accept any other office
25. Codes of conduct
26. Inflation target
27. Publication of report on inflation
28. Action to preserve price stability
29. Opening of accounts
30. Custodial services of the Central Bank
31. Open market operations
32. Regulation of reserves of the financial institutions
33. Monetary Policy Board to prescribe reserve ratios
34. Consequences of reserve deficiencies
35. Operational methods of monetary control
36. Liquidity assistance to financial institutions
37. Foreign exchange operations of the Central Bank
38. Central Bank not to accept any commission or impose any charges in foreign exchange operations
39. Loans to and from foreign institutions
40. Management of international reserves
41. Information on exchange operations
42. Control of foreign exchange holdings of commercial banks
43. Currency
44. Issuing power
45. Prohibition against issue of notes by any person other than the Central Bank
46. Liability for notes and coins
47. Currency to be the legal tender
48. Issue of commemorative currency notes or coins
49. Characteristics of currency
50. Contracts for printing of notes and minting of coins
51. Exchange of currency
52. Replacement of currency unfit for circulation
53. Redemption of currency
54. Currency stock
55. Mutilation or defacement of currency notes
56. Use of currency coin otherwise than as legal tender
57. Conclusive evidence of imitation of a currency note
58. Conclusive evidence of imitation of a coin or current coin
59. Establishment of systems for transfer of funds and transfer and settlement of scripless securities
60. Licensing and oversight
61. Supervisory authority of the Central Bank
62. Resolution authority of the Central Bank
63. Macroprudential objectives of the Central Bank
64. Macroprudential powers of the Central Bank
65. Monitoring, analysis and assessment of risks
66. Macroprudential instruments
67. Powers of the Central Bank upon financial institutions
68. Designation of systemically important financial sector participants
69. Central Bank to propose recommendations to the Financial System Oversight Committee
70. Financial Stability Review
71. Establishment of the Financial System Oversight Committee
72. Powers, duties and functions of the Financial System Oversight Committee
73. Composition of the Financial System Oversight Committee
74. Secretariat of the Financial System Oversight Committee
75. Recommendations to public authorities and financial sector authorities
76. Information exchange with regard to macroprudential issues
77. Agreement
78. Collection of statistics and information
79. Dissemination of statistics and information
80. Accountability
81. Financial advisor, fiscal agent of, and banker to, the Government
82. Depository for the Government
83. Coordination Council
84. Cooperation with the Government
85. Inter- institutional cooperation
86. Prohibition on monetary financing
87. Credit operations with credit institutions
88. Stamp duty
89. Registration of instrument of assignment
90. Applicability of the Prevention of Frauds Ordinance
91. Interpretation
92. Accounting standards
93. Financial year
94. Reserve accounts
95. Profits, losses and distributable earnings
96. Allocation of distributable earnings
97. Coverage of shortfall in capital
98. Balance sheet of the Central Bank
99. Annual financial statements
100. Budget
101. Auditing of the accounts of the Central Bank
102. Appointment of Chief Internal Auditor
103. Audit Committee
104. Duty of the Central Bank to support the economic policy of the Government
105. Regulatory instruments
106. Publication of rules and directions
107. Administrative measures
108. Power of the Central Bank to suspend or restrict business of a banking institution
109. Training
110. Offences under this Act
111. Penalty
112. Compounding offences
113. Fees and charges
114. Prohibited activities
115. Provisions of this Act to prevail over other written law
116. Tax exemption
117. Preferential right
118. Immunity from prejudgment attachment
119. Confidentiality
120. Protection from action
121. Indemnification for costs in legal proceedings
122. Members and employees deemed to be public servants
123. Central Bank deemed to be a Scheduled Institution.
124. Interpretation
125. Repeal of the Monetary Law Act (Chapter 422)
126. Continuation of terms of office
127. Provisional advances
128. Central Bank to purchase securities issued by the Government
129. Transitory credit to the Government
130. Application of distributable earnings to restore the capital
131. Transitory credit to credit institutions in respect of lending operations carried out for productive purposes
132. Central Bank to continue to act as agent of the Government
133. Rights and obligations of the Monetary Board
134. Savings
135. Sinhala text to prevail in case of inconsistency