යෝජිත නව ආණ්ඩුක්‍රම ව්‍යවස්ථාව (Third Republic Constitution) Chapter XXVIII

 CHAPTER XXVIII

 

THE FINANCE COMMISSION (FC)

 

237.       (1) There shall be a Finance Commission consisting of:

(a) the Governor of the Central Bank of Sri Lanka;

(b) the Secretary to the Treasury; and

(c) three other members appointed by President subject to the provisions of Article 185, to represent the three major communities each of whom shall be a person who has distinguished himself, or held high office, in the field of finance, law, administration, business or learning. Secretary to the Treasury shall be the Chairman of this Commission.

238.       Provisions of Articles 186, 187, 188, 190, 193, 194, 202, 203, 223, and paragraph (2) and (6) of Article 184, paragraph (5) of Article 195 shall apply, mutatis mutandis, to this Commission.

239.       The Government shall, on the recommendation of, and in consultation with, the Commission, allocate from the Annual Budget, such funds as are adequate for the purpose of meeting the needs of the Localities and Provinces.

240.       (1) It shall be the duty of the Commission to make recommendations to President to:

 

(a) the principles on which such funds as are granted annually by the Government for the use of Localities and Provinces, should be apportioned among various Localities and Provinces; and

(b) any other matter referred to the Commission by President relating to Local Finance and Provincial Finance.

(2) The Commission shall formulate such principles with the objective of achieving balanced regional development in the country, and shall accordingly take into account:

(a) the population of each Locality and each Province;

(b) the per capita income of each Locality and each Province;

(c) the need, progressively, to reduce social and economic disparities; and

(d) the need, progressively, to reduce the difference between the per capita income of each Province and the highest per capita income among the Provinces.

(3) No Court or Tribunal shall inquire into, or pronounce on, or in any manner entertain, determine or rule upon, any question relating to the adequacy of such funds, or any recommendation made, or principle formulated by, the Commission.

(4) President shall cause every recommendation made by the Finance Commission under this Article to be laid before Parliament, and shall notify Parliament as to the action taken thereon.

241.       The Commission shall determine its own procedure and shall have such powers in the performance of its duties as Parliament may, by law, confer on it.