For the first time in Sri Lanka, the Regulation of Election Expenditure Act No. 3 of 2023 regulates campaign finance in elections. The Act establishes limits on how much recognized political parties, independent groups, and candidates can spend during an election, with these limits being calculated by the Election Commission of Sri Lanka based on the number of registered voters and in consultation with recognized political parties and independent groups. The law prohibits accepting donations from government entities, foreign organizations, or anonymous sources. Any violation of these expenditure limits or donation prohibitions is considered an illegal practice and can result in penalties. Within 21 days of the election results, all parties and candidates must submit detailed returns of all donations received and expenses incurred along with relevant bills and receipts to the Election Commission of Sri Lanka. These returns will be available for public access.