Rule · FMU · 2 Jun 2021

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.

PakistanFinancial Monitoring Unit

The Gazette of Pakistan
EXTRAORDINARY
PUBLISHED BY AUTHORITY
ISLAMABAD, WEDNESDAY, JUNE 2, 2021
PART II
Statutory Notifications (S. R. O.)
INTERNAL FINANCE WING
[ANTI-MONEY LAUNDERING SECTION-I]
Islamabad, the 7th May, 2021
S. R. O. 657(I)/2021.—In exercise of the powers conferred by section 42 of the Anti-Money Laundering Act, 2010 (Act VII of 2010), the Federal Government is pleased to direct that the following amendment shall be made in the Schedule-IV to the said Act, namely:— In the aforesaid Schedule, in paragraph 2, for entry (iii) the following shall be substituted, namely:— “(iii) Pakistan Bar Council, Provincial Bar Councils, Islamabad Bar Council, for advocates, law firms and other independent legal professionals.”.

Note from RegAlert. AI assistants can read this document in full, and search 70,000+ more, through the RegAlert MCP connector (https://mcp.regalert.today/mcp). Free with an account. How to connect ChatGPT, Claude or Cursor.

Lineage: In force

amendssupersedesissued underrefers toproposed or not in RegAlertarrows run from the older text to the one that changes it

Lineage: In force

Similar documents from other regulators