Pakistan Post (AML and CFT) Supervisory Board (Powers & Functions) Rules, 2020

Pakistan Post (AML and CFT) Supervisory Board (Powers & Functions) Rules, 2020

TO BE PUBLISHED IN GAZETTE OF PAKISTAN EXTRA-ORDINARY

Government of Pakistan Ministry of Communications Islamabad

Notification

Islamabad, the 1st October, 2020

S.R.O. 948(i)/2020: In exercise of the powers conferred by section 43 read with sub-section (I) of section 6A and sub-clause (iv) of clause I of THE SCHEDULED-IV of the Anti-Money Laundering Act, 2010 (VII of 2010), the Federal Government is pleased to make the following rules, namely:-

1. Short title and commencement. (1) These rules shall be called the Pakistan Post (AML and CFT) supervisory Board (powers & functions) Rules, 2020. (2) These rules shall come into force at once.

2. Definitions. (1) In these rules, unless there is anything repugnant in the subject or context, (a) "AML Act" means the Anti-Money Laundering Act, 2010 (VII of 2010); (b) "ML" means the money laundering; (c) "Pakistan Post" means the Pakistan Post Office Department (PPOD) an attached department under Ministry of Communications, established under Post Office Act, 1898 (VI of 1898); (d) "reasonable measures" means appropriate measures which are required to be taken for prevention of and at the level commensurate with, money laundering or terrorist financing risks; (e) "Supervisory Board" means The Pakistan Post (AML and CFT) Supervisory Board for Pakistan Post Office Department constituted under rule 3; these rules and (f) "TF" means the terrorist financing. (2) The words and expressions used in these Rules but not defined herein shall have the meanings assigned thereto in the AML Act, as amended from time to time.

3. Constitution of The Supervisory Board. (1) The Supervisory Board shall consist of the following members namely:-

Sr. No.	Member	Designation
1.	Additional Secretary, Communications Division	Chairman
2.	Representative of SBP not below a BPS-20 or equivalent officer	Member
3.	Representative of SECP not below a BPS-20 or equivalent officer	Member
4.	Representative of FMU not below a BPS-20 or equivalent officer	Member
5.	Director General, National FATF Secretariat, Islamabad.	Member
6.	Deputy Secretary, Communications Division	Member and Secretary

(2) The Supervisory Board may call a person on the special invitations to assist the Supervisory Board. (3) The Division to which business of PPOD stands allocated shall provide all secretarial and administrative support to the Supervisory Board for effective exercising its powers and performing its functions. (4) The Chairman shall call at least four meetings in each calendar year to pursue the implementation of its supervisory functions and take the necessary decisions and actions. Special meetings may be called at the request of the Chairman of the Board. (5) The quorum for a meeting of the Supervisory Board will be a minimum of four members including the Chairman.

4. Powers and functions of the supervisory Board. (1) The Supervisory Board shall also exercise and perform the following powers and functions with respect to PPOD for the implementation of obligations and ensuring compliance with requirements of the AML Act, namely:- (a) establishing policies and procedures that ensure the implementation of its supervisory role effectively and efficiently, including a sanctions regime to address the relevant violations by PPOD; (b) conducting the necessary studies and assessments in relation to any aspects of the AML and CFT supervisory regime, including regular and ad-hoc risk assessments through participation in any national risk assessment exercise and taking the necessary measures to address and mitigate such risks; (c) co-operating with its foreign counterparts in accordance with section 6B of the AML Act; (d) to engage the State Bank of Pakistan or an external auditor from the State Bank of Pakistan’s approved panel of auditors to ensure compliance with the AML Act and any orders, rules and regulations made thereunder; and (e) while performing its functions, to appoint in prescribed manner or request the services of experts and personnel of appropriate experience and knowledge including to make requests for acquiring technical and other resources to carry out the functions assigned thereto under the AML Act.

5. Repeal and saving. (1) The Pakistan Post (AML and CFT) Rules, 2019 are hereby repealed. (2) Anything done or action taken under the repealed rules so far as these are not in constant with the provision of these rules shall without prejudice to anything already done or any action already taken, be deemed to have been done or taken under these rules.