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The government is set to introduce three significant Bills in Parliament during the first quarter of this year, aimed at recovering stolen assets, combating money laundering, drug trafficking, and associated crimes, Justice Minister Harshana Nanayakkara announced today.
Addressing the adjournment debate on the President’s policy statement, the Minister highlighted that the proposed legislations include the “Proceeds of Crime Bill”, the “Rescue, Rehabilitation, and Insolvency Bill”, and amendments to the “Audit Act”.
The primary objective of these Bills, he explained, is to trace and recover illicit assets, curb the proceeds of criminal activities, and strengthen measures against money laundering, narcotics trafficking, and related offenses.
Additionally, the Minister noted that the proposed changes to the Insolvency Act and the Audit Act are designed to enhance creditor confidence, safeguard the rights of debtors, and ensure uniformity and modernization in relevant legal frameworks.
