The interim committee running Sri Lanka Cricket (SLC) has to be dissolved mid next month and the first election in seven years would be held, Sports Minister Mahindananda Aluthgamage said in Colombo on Thursday.
"The interim committee will be dissolved and the elections will be held before the end of the year," Aluthgamage told the media on Thursday.
The dissolution came a day after the ICC (International Cricket Council) warned all its member boards of sanctions if they fail to free themselves of government interference within a year.
The present interim committee headed by Upali Dharmadasa was appointed in July by Aluthgamage in order to revamp the administration after Sri Lanka's loss to India in the World Cup final in April this year.
Dharmadasa's committee succeeded a similar interim committee headed by the former Test leg-spinner D S de Silva.
Sri Lanka Cricket has been run by such successive interim committees since 2005.
The last election was held in early 2004 when Tilanga Sumathipala defeated Arjuna Ranatunga.
The news of the dissolution came after last week's reports that the SLC administration had faced a severe financial crisis.
Dharmadasa stated that he was awaiting the ICC to make a payment, so that the Board could pay salaries to its staff, which is of the strength of about 263, and to its 94 contracted cricketers.
Aluthgamage said a state bank overdraft had been sought to meet the financial commitments of the troubled administration.
Sources close to Dharmadasa said that he was hopeful of contesting the SLC election.