LNP – Legislations soon to recover stolen assets, deter money laundering: Justice Minister

The government is planning to present three Bills in Parliament within the first quarter of this year, aiming to recover stolen assets, deter money laundering, drug trafficking and related vices, Justice Minister Harshana Nanayakkara said today.

Speaking during the adjournment debate on the government’s policy statement delivered by the President, the Minister said the three legislations are the Proceeds of Crime Bill, Rescue, Rehabilitation and Insolvency Bill and amendments to the Audit Act.

He said the idea of introducing the three Bills is to recover stolen assets, trace proceeds of crimes and effectively deter money laundering, drug trafficking and all related vices.

The Minister said the Insolvency Act and the Audit Act will improve creditor confidence and protect the debtors’ rights while brining uniformity and update.