Three important bills passed in Parliament

first_img 9 Views   no discussions Share Attorney General Levi Peter. (file photo)The Dominican Parliament has effectively passed the Money Laundering Prevention Act 2011, Financial Services Unit Amendment Bill 2011 and the Financial Intelligence Unit Bill.The Money Laundering Bill will bring Dominica into greater compliance with the Forty Recommendations and Nine Special Recommendations of the Financial Action Task Force which Dominica has committed to by virtue of its membership of the Caribbean Financial Action Task Force and to provide for related matter.Attorney General Levi Peters in his introduction to the bill said it will ensure a secure financial infrastructure in Dominica.He said it will also give government the power to identify and trace tainted property among others.According to him, the bill is of paramount importance and it will address a number of deficiencies identified in the existing laws. “Madam Speaker this bill seeks to repeal the previous 2000 act and tidy up the legislation in this area and keep it one source,” he explained.According to Peter, the bill will also ensure that Dominica and the wider international community are at all times protected by a robust secure and effective legislative framework and financial infrastructure.Dominica Vibes News Share Sharecenter_img Sharing is caring! Tweet LocalNews Three important bills passed in Parliament by: – October 27, 2011last_img

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