Tenure of PCoI extended to 31 Dec

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By 2017-12-08

By Shaahidah Riza

The tenure of the Presidential Commission of Inquiry (PCoI) probing the issuance of Treasury Bonds has been extended to 31 December, as indicated by a Gazette Extraordinary 2048/29.
The Gazette further indicated that President Maithripala Sirisena had extended the tenure in accordance with Section 4 of the Commission of Inquiry Act (Chapter 393).

The tenure of the PCoI was extended in order to compile the reports of the proceedings that took place thus far. During this period, no more hearings will take place.

The PCoI was appointed by President Sirisena to probe the issuance of Treasury Bonds that took place between 1 February 2015 and 31 March 2016, following reports of a colossal bond scam, in which key members of the incumbent Government were allegedly involved. The report, which is presently being prepared, is to be handed over to President Sirisena. It will be compiled based on the evidence gathered by the PCoI, following hearings that lasted 10 months.

The members of the PCoI were Supreme Court Judges, Justice K.T. Chitrasiri (Chairman of the Commission) and Justice Prasanna Jayawardena, along with the former Deputy Auditor General, Kandasamy Velupillai.

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