KATHMANDU, FEBRUARY 21
A bill to amend laws related to prevention of money laundering and promotion of business environment was registered in the House of Representatives last week. It aims to amend 20 laws related to money laundering.
The bill is mainly intended to amend the Prevention of Money Laundering Act-2008.
The bill also has a provision of establishing an autonomous body to collect information about activities related to money laundering. Currently, one branch of the Nepal Rastra Bank is working as a financial information unit. The law is being amended so that the financial information unit can be established as an autonomous organisation.
Amendments have also 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
• Ship Registration Act-1971
• Land Revenue Act-1978
• Tourism Act-1979
• Building Act-1998
• Damasahi Act: 2006
• Securities Act-2006
• 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 article appears in the print on February 22, 2023, of The Himalayan Times.
