Anti Money

In: Business and Management

Submitted By mrashid18
Words 2488
Pages 10
Anti-Money Laundering Act 2010

2. Definitions.-In this Ordinance, unless there is anything repugnant in the subject or context,-
(a) “attachment” means prohibition of transfer, conversion, disposition or movement of property by an order issued under section 8; (c) “CTR” means report on currency transactions exceeding such amount as may be specified by the National Executive Committee; (d) “Court” means the Court specified under section 20 (e) “Director General” means the Director General of FMU appointed under section 6; (f) “financial institutions” includes any institution carrying on any or more of the as listed in section 2(f). (g) “fiscal offence” means an offence punishable under the Income Tax Ordinance, 2001 (XLIX of 2001), the Federal Excise Act, 2005, the Customs Act, 1969 (IV of 1969), the Sales Tax Act, 1990 and any other law as the Federal Government may notify in this behalf; (h) “FMU” means the Financial Monitoring Unit established under section 6;

(i) “foreign serious offence” means an offence – (i) against the law of a foreign State stated in a certificate issued by, or on behalf of, the government of that foreign State; and (ii) which, had it occurred in Pakistan, would have constituted a predicate offence; (j) “investigating or prosecuting agency” means the National Accountability Bureau (NAB), Federal Investigation Agency (FIA), Anti-Narcotics Force (ANF) or any other law enforcement agency as may be notified by the Federal Government for the investigation or prosecution of a predicate offence; (l) “investigating officer” means the officer nominated or appointed under section 24; (m) “National Executive Committee” means the National Executive Committee constituted under section 5;

(n) “offence of money laundering” has the meaning as defined in section 3; (o) “person" means an individual, a firm, an entity, an association or a body of...