Regulatory Alerts2021-06-02
Amendment to Schedule IV of the AML Act
This statutory notification amends Schedule IV of the Anti-Money Laundering Act, 2010, by revising the entry regarding the scope of regulated legal professionals. Specifically, it updates entry (iii) in paragraph 2 to explicitly include the Pakistan Bar Council, Provincial Bar Councils, and Islamabad Bar Council, alongside advocates, law firms, and other independent legal professionals. These entities are now formally brought within the regulatory ambit for anti-money laundering compliance purposes.
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