යෝජිත නව ආණ්ඩුක්‍රම ව්‍යවස්ථාව (Third Republic Constitution) Chapter XXXVI

 CHAPTER XXXVI

 

FINANCE

 

300.       Parliament shall have full control over public finance. No tax, rate or any other levy shall be imposed by any local authority or any other public authority, except by or under the authority of a law passed by Parliament or of any existing law.

301.       (1) The funds of the Republic not allocated by law to specific purposes shall form one Consolidated Fund into which shall be paid the produce of all taxes, imposts, rates and duties and all other revenues and receipts of the Republic not allocated to specific purposes.


(2) The interest on the public debt, sinking fund payments, the costs, charges and expenses incidental to the collection, management and receipt of Consolidated Fund and such other expenditure as Parliament may determine shall be charged on Consolidated Fund.

(3) The Minister of Finance shall present to Parliament a monthly Statement of the detailed expenses and income of Consolidated Fund.

302.       (1) Save as otherwise expressly provided in paragraphs (3), (4) and (5) of this Article, no sum shall be withdrawn from Consolidated Fund except under the authority of a warrant under the hand of the Minister of Finance.


(2) No such warrant shall be issued unless the sum has by resolution of Parliament or by any law been granted for specified public services for the financial year during which the withdrawal is to take place or is otherwise lawfully, charged on Consolidated Fund.


(3) Where Parliament is dissolved before the Appropriation Bill for the financial year has passed into law, President may, unless Parliament shall have already made provision, authorize the issue from Consolidated Fund and the expenditure of such sums as he may consider necessary for the public services until the expiry of a period of three months from the date on which the new Parliament is summoned to meet.


(4) Where Parliament is dissolved and a date is fixed for a General Election President may, unless Parliament has already made provision in that behalf, authorize the issue from Consolidated Fund and the expenditure of such sums as he may, after consultation with Elections Commission, consider necessary for such elections.

 

(5) The Minister of Finance, if satisfied that there is need for any urgent or unforeseen expenditure and that no provision for such expenditure exists, may, with the consent of President, authorize provision to be made therefore by an advance from Consolidated Fund:

Provided that as soon as possible after every such advance, a

Supplementary Estimate shall be presented to Parliament for the purpose of replacing the amount so advanced.

303.       No Bill or motion, authorizing the disposal of, or the imposition of charges upon, Consolidated Fund or other funds of the Republic, or the imposition of any tax or the repeal, augmentation or reduction of any tax for the time being in force shall be introduced in Parliament except by a Cabinet Minister, and unless such Bill or motion has been approved by Cabinet of Ministers.

304.       The salaries, allowances, pensions paid to President, Vice President, Prime Minister, Cabinet Ministers, Governors, Deputy Ministers, Speaker, Members of Parliament, Members of Local Councils, Judges of courts, members of Constitutional Council, members of Independent Commissions, public service shall be charged on Consolidated Fund.

305.       (1) The National Currency of the Republic shall be Sri Lankan Rupee (LKR), and one hundredth of which shall be a Cent.

(2) Sri Lankan Rupee shall be a legal tender in the country.

(3) For the purpose of calculation of salary, allowance, pension, fines and penalties, fees, cost of living, and in case a non-inflationary and non-deflationary monetary unit is required or desired, “Specific Sri Lankan Rupee (LKRS)” shall be used therefor, and the Specific Sri Lankan Rupee shall be defined by the Central Bank in consultation with the experts in finance. LKRS shall not be a legal tender, and its sole purpose is for statistics and uniform calculations of consideration or value adjusted for inflation or deflation such that LKRS shall have the same value throughout time.

(4) The Central Bank shall biannually determine the conversion rate between the Sri Lankan Rupee and the Specific Sri Lankan Rupee. The Base Year of the LKRS shall be the year 2020.

(5) The State and State entities shall calculate cost of living, fines imposed for breach of laws and regulations, fees for government services, salaries, wages and allowances in terms of LKRS.

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