The Second Reading of the Prevention of Money Laundering (Amendment) Bill was passed in Parliament with a special majority this evening (09).
The bill was passed with 154 voting in favour and 2 voting against after a division was called following the second reading.
A vote on the Third Reading of the bill is slated to be taken shortly.
On Tuesday (07), the Cabinet of Ministers approved the resolution to present committee-stage amendments to the Draft Bill on Financial Transactions Reporting (Amendment) and the Draft Bill on Prevention of Money Laundering (Amendment) in Parliament.
Cabinet approval had previously been granted in February to publish the Draft Bill for Financial Transaction Reporting (Amended) and the Draft Bill for Prevention of Money Laundering (Amended) in the Government Gazette and thereby submit the same to the Parliament for its concurrence.
The Legal Draftsman has drafted the acts as proposed amended bills to introduce at the committee stage including essential amendments recognized as well as considering the decisions of the Supreme Court in regard to the cases filed challenging the said amended draft bills.
The Attorney General has also granted clearance for those new amendments.
