Sri Lanka Consolidated Acts

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Fiscal Management (Responsibility) Act (No. 3 of 2003) - Sect 20

Restrictions on Borrowing from Central Bank

20.
(1) Subject to the provisions of subsections (2) and (3), the Government shall not borrow from the Central bank.
(2) The Government may borrow from the Central Bank, by way of advances, to meet a temporary excess of cash disbursements over cash receipts in a financial year :
(3) Nothing contained in (his section shall be deemed to prohibit the Central Bank from subscribing to primary issues of Government Treasury Bills.

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