House of Representatives unanimously approves Bill on Anti-Money Laundering

Kathmandu  The meeting of the House of Representatives has unanimously approved the Bill on Anti-Money Laundering.

The meeting of HOR approved the Bill on Anti-Money Laundering on Wednesday. Minister for Law, Justice, and Parliamentary Affairs, Dhanraj Gurung presented the proposal seeking the endorsement of the bill to amend Acts and laws relating to the prevention of money laundering and promotion of business environment.

Likewise, The endorsement opened the way for amendment in a host of laws such as Export-Import (Control) Act-2013 BS, Ship Registration Act-2027 BS, Revenue Act-2034 BS, Tourism Act-2035 BS, Building Act-2055 BS, Insolvency Act-2063 BS, Securities Act-2063 BS, Nepal Rastra Bank Act-2058 BS, Human Trafficking and Transportation (Control) Act-2064 BS.

Similarly, Assets and Instruments (Seizure, Control and Confiscation) Act-2070 BS, Money Laundering Prevention Act-2064 BS, Organized Crime Prevention Act-2070 BS, Insurance Act-2079 BS, Cooperatives Act-2074 BS, Foreign Investment and Technology Handover Act-2075 BS, Electricity Regulation Commission Act-2074 BS, Mutual Legal Assistance Act-2070 BS would undergo amendment with today’s endorsement.

The National Civil (Code) Act-2074 BS and the National Criminal Procedure (Code) Act-2074 BS have been amended through the Bill. Speaker Devraj Ghimire said that the HOR meeting will again be held on  February 18 at 11:00 am.  where parliamentarians can hold live question-and-answer sessions with the Prime Minister.

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