A discussion on how the Prevention of Money Laundering Act could be amended was held under the patronage of Justice, Constitutional Reforms and Prison Affairs Dr. Wijeyadasa Rajapakshe yesterday.
The discussion focused on matters relating to properties including vehicles, houses and lands etc., purchased expending monies illegibly earned.
At the discussion, it was raised concerns on how the present Act ought to be amended to ensure measures to be taken pertaining to such properties and as well as the need to expedite investigations into such properties alleged to have been purchased expending money fraudulently earned.
Minister Rajapakshe told the meeting that committee has already been appointed to take charge of formulating necessary legislation to address that the court productions, which could not be discharged within three months from the date of court custody, could be sold and the proceeds of the sale could be credited in favour of the relevant Court case until the judgment would be pronounced so that the sale proceeds could be dealt with according to the judgment.
The Minister further disclosed that the Committee is to issue its report on proposed amendments within one month.
Ministry Secretary Wasantha Perera, officials including officials representing the Ministry of Finance and the Department of Police were present at the discussion.