Nepal

[Nepal] - Parliament set to change laws associated with cash laundering

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KATHMANDU, FEBRUARY 21A costs to amend laws related to prevention of cash laundering and promotion of business environment was registered in your house of Representatives recently.

It intends to modify 20 laws associated to money laundering. A version of this post appears in the print on February 22, 2023, of The Himalayan Times. - Insurance Act-2023 35 schools selected for environment program Include required arrangements in legal aid draft costs The bill also has a provision of developing an autonomous body to gather information about activities related to money laundering.

Currently, one branch of the Nepal Rastra Bank is working as a monetary details unit.

The law is being modified so that the financial information system can be established as a self-governing organisation.Amendments have likewise been proposed to the Criminal Code 2017 and the Criminal Procedure Code 2017 through the bill.Which laws are being amended? - Export Import (Control) Act-1957 The costs is generally meant to change the Prevention of Money Laundering Act-2008. - Ship Registration Act-1971 - Land Revenue Act-1978 - Damasahi Act: 2006 - Tourism Act-1979 - Securities Act-2006 - Building Act-1998 - Nepal Rastra Bank Act-2002 - Human Trafficking and Trafficking (Control) Act-2007 - Criminal Assets and Instruments (Seizure, Control, and Confiscation) Act-2013 - Money Laundering Prevention Act-2007 - Mutual Legal Assistance Act-2013 - Organised Crime Prevention Act-2013 - Electricity Regulatory Commission Act-2017 - Cooperatives Act-2017 - Foreign Investment and Technology Transfer Act-2019 - Insurance Act-2023 A version of this post appears in the print on February 22, 2023, of The Himalayan Times .

This short article first appeared/also appeared in https://thehimalayantimes.com




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