time limit of one year for reviewing the law & rationalizing the Schedule Further amendments in Senate If not passed till 26th March it will be repromulgated (PLD 1999 Lahore 320 , 1999SCMR 264)
FEDERALL ADMINISTERED TRIBAL AREAS
All the laws of Agencies apply to FATA
Section 39 of AMLO 2009 clears the position The net effect is that action under AMLO can be taken by the Agencies in FATA provided the laws given in their respective Schedules also extend to FATA
FMU, SBP and SECP
What is the status of FMU under AMLO
Why SBP is included Why SECP is included Rule 8 of the Rules of Business 1973 Government is run by sharing of responsibility amongst its various limbs and not by shifting of responsibility
Flag State Jurisdiction
Section 188 of CrPC---Also refers to
Extradition Act 1972
Section 4 of PPC
Section 22 of AMLO 2009
Issue of Cognizable & nonCognizable
Section 14 (2), 16 & 21 of the AMLO
make search, seizure and arrest noncognizable Offences under the respective laws of Agencies are cognizable---Section 5(3) of the FIA Act states that all offence under the Schedule of FIA Act 1974 are cognizable (AMLO is also in Schedule?) The statute later in time shall prevail Section 24 of NAB Ordinance 1999 makes it cognizable
Contd..
Section 6(3) of ANF Act 1997 makes it
cognizable in respect of all offence related to section 5 (a) of the ANF Act 1997 Hence the problem lies with the offences which are exclusively the offence of money laundering but for the offences of money laundering which are based on other offences, the issue of non-cognizable does not arise
Schedules of Agencies laws and
AMLO
Section X of the Schedule of the AMLO
includes in it the NAB Ord 1999 and Section VIII includes CNS Act 1997, but FIA Act is not in its Schedule On the other hand AMLO is included in the Schedule of FIA Act 1974 So the cumulative effect is that it goes both ways & there is no impediment for NAB or ANF to investigate for money laundering
Reporting Entity of STR & CTR
Two express reporting entities as per
the definition clause of AMLO Two implied reporting entities under sub-sections (2) and (6) of section 7 of the AMLO 2009 Section 12 provides indemnity to all reporting entities and this provision prevails over any contract between the client and the Financial Institution and even the priviliged communication between the client and the Lawyer
Sections
39 and 22 of the AMLO 2009 need to be explained
Subordinate Legislation---Its purpose
Anti-Money Laundering Regulations
2008 made under section 44 read with section 6 (4) (h) of AMLO 2009 and issued vide SRO 02(KE)/2009, dated the 22nd November 2008..its contents Anti-Money Laundering Rules 2008 made under section 43 of AMLO 2009 and issued vide SRO 05(KE)/2009, dated the 22nd November, 2008..its contents