New Anti-Corruption Act Takes Effect, Promoting Transparency and Accountability
Starting today, September 15, the new Anti-Corruption Act comes into operation, ushering in measures aimed at bolstering transparency in governance and public trust in the government. This legislation also establishes an independent commission tasked with identifying and investigating allegations of bribery, corruption, asset and liability declarations, and related offenses.
The Act seeks to fulfill Sri Lanka’s obligations under the UN Convention against Corruption and other international agreements on corruption prevention, embracing global standards and best practices to cultivate a culture of integrity within the nation.
With the commencement of the Anti-Corruption Act No. 9 of 2023, 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Bribery or Corruption (CIABOC) Act, No. 19 of 1994, and the Declaration of Assets and Liabilities Law No. 1 of 1975 are repealed.
Furthermore, as of today, the Assistance to and Protection of Victims of Crime and Witnesses Act No. 10 of 2023 also takes effect, providing additional support and safeguards for those impacted by crime.
Meanwhile, Speaker of Parliament Mahinda Yapa Abeywardena recently endorsed the Central Bank of Sri Lanka (CBSL) Bill and the Banking (Special Provisions) Bill. Following their passage in Parliament, these bills are now officially recognized as the Central Bank of Sri Lanka Act No. 16 of 2023 and the Banking (Special Provisions) Act No. 17 of 2023.
