Regulatory Alerts2021-06-02
Appointment of Administrator under Section 11 of the AML Act
The Federal Government has appointed specific officers from various agencies as ex-officio Administrators to exercise powers under Section 11 of the Anti-Money Laundering Act, 2010. These designated officials are authorized to manage, auction, or dispose of property liable for forfeiture to ensure the preservation of its value for the Federal Government. The scope of their authority includes taking all necessary public interest measures subject to prescribed rules and final court orders.
Share