Re-deliberation on Anti-Money Laundering and Countering Financing of Terrorism Bill of Bhutan 2017
T he ongoing National Assembly re- deliberated on the recommendations and amendments made by the National Council on the Anti- Money Laundering and Countering of Financing of Terrorism Bill of Bhutan 2017.
The Bill was passed in the 9th session of the National Assembly and transmitted to the National Council. The House, during the redeliberation, accepted most of the recommendations and amendments made by the National Council.
However, it was noted that the National Council had deleted the section 278 of the Penal Code of Bhutan under section 4.2 of the Bill. The Member of Parliament from Dramedtse-Ngatshang constituency MP Ugyen Wangdi said that Sections 277, 278 and 329 ( b) of the Penal Code of Bhutan have to be implemented together.
However, the House decided that the Chairperson of the Good Governance Committee ( National Assembly) and Economic Affairs Committee ( National Council) discuss the matter and submit a report to the House before voting on the Bill.
The objective of the Bill is to prevent money laundering and financing of terrorism. Finance Minister, Lyonpo Namgay Dorji said that it was an important Bill that the Parliament needed to pass at the earliest.
He said that it would help Bhutan get access to financial assistance from international agencies and other countries. If a person intentionally or knowingly, directly or indirectly, provides or collects fund with the intention that such funds are to be used to carry out a terrorist act, that person would be guilty of offence.