New Anti-Corruption Act comes into effect today

The provisions of the new Anti-Corruption Act, which aims to enhance transparency in governance and public confidence in the government, come into effect today (Sept. 15). 

New legislation also intends to establish an independent commission to detect and investigate allegations of bribery, corruption and offenses related to the declaration of assets and liabilities and other associated offenses.

It further seeks to give effect to obligations under the UN Convention against corruption and any other international convention on the prevention of corruption to which Sri Lanka is a party and recognize international standards and best practices in order to establish a culture of integrity in Sri Lanka.

With the new Anti-Corruption Act No. 9 of 2023 coming into effect, the Bribery Act (Chapter 26), the Commission to Investigate Allegations of Bribery or Corruption (CIABOC) Act, No. 19 of 1994 and the Declaration of Assets and Liabilities Law No. 1 of 1975 will thus be repealed.

On July 19, the Anti-Corruption Bill was passed with amendments without a vote, at the committee stage in parliament.

In addition, the Assistance to and Protection of Victims of Crime and Witnesses Act No. 10 of 2023 is also effective from today.

Meanwhile, Speaker of Parliament Mahinda Yapa Abeywardena on Thursday (Sept. 14) endorsed the certificate on Central Bank of Sri Lanka (CBSL) Bill and the Banking (Special Provisions) Bill.

The CBSL Bill was passed in Parliament by a majority last July 20 with amendments. The Banking (Special Provisions) Bill was passed without a vote on July 21.

Accordingly, the said Bills will come into effect as the Central Bank of Sri Lanka Act No. 16 of 2023 and the Banking (Special Provisions) Act No. 17 of 2023.