Regulatory Alerts2016-02-10
Addition of Predicate Offences-Insider Trading & Market Manipulation
The Federal Government of Pakistan has amended the Anti-Money Laundering Act, 2010, to include specific provisions from the Sales Tax Act, 1990, and the Federal Excise Act, 2005, as predicate offences. Section VIIA is inserted to incorporate offences, penalties, and related matters under entries 11 and 13 of the Sales Tax Act, 1990. Additionally, Section XIV is added to include offences, penalties, fines, and allied matters under section 19(3) of the Federal Excise Act, 2005, within the scope of the anti-money laundering framework.
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