Sri Lanka to increase fine for failure to declare assets

Sri Lanka to increase fine for failure to declare assets

October 11, 2017   06:25 pm

The Cabinet of Ministers has approved a proposal to amend Sri Lanka’s Declaration of Assets and Liabilities Law, to increase the maximum fine imposed on those found guilty under the law. 

Accordingly, the proposal submitted by Justice Minister Thalatha Athukorala to draft amendments to the law to increase the fine imposed on an individual found guilty under the aforementioned law from the current, which is not exceeding one thousand rupees, to Rs 100,000, has been approved by the Cabinet.  

The Declaration of Assets and Liabilities Law currently states that: “Any person who commits an offence under the provisions of subsection (4) shall, upon conviction after trial by a Magistrate, be liable to a fine not exceeding one thousand rupees or to a term of imprisonment of either description not exceeding one year, or to both such fine and imprisonment.”

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