• MPs face upto one year in prison or heavy fines if they fail to submit asset declarations  

By Sujith Hewajulige  

At least 20 Members of Parliament have failed to submit their asset and liability statements, according to informed sources.  

In response, the Election Commission has directed parliamentary leaders to remind these MPs once more. Each of the 169 MPs are required to submit their asset and liability statements to the Speaker by June 30th annually.  

The Bribery or Corruption Allegations Investigation Commission is closely monitoring the situation concerning these 20 MPs who have not yet met their obligations. Under the new Act on Declaration of Assets and Liabilities, MPs who fail to submit their declarations by August 31 each year may face a prison term of upto one year, a fine equivalent to twelve months’ wages, or both.  

The requirements for asset and liability declarations extend beyond those specified in the Assets and Liabilities Declaration Act No. 01 of 1975, as amended by Act No. 74 of 1988. Section 80 of the Anti-Corruption Act No. 09 of 2023 also introduces additional categories of officials and individuals required to submit such declarations.