Friday 18 October, 2019

Unexplained Wealth Bill passed in Parliament

Attorney General Faris Al-Rawi.
Photo courtesy: TT Parliament.

Attorney General Faris Al-Rawi. Photo courtesy: TT Parliament.

The Civil Asset Recovery and Management and Unexplained Wealth Bill 2019 was read in the Parliament for the third time and passed with amendments in the House of Representatives.

All 34 members present, voted in favour of the Bill on Monday evening.

The Bill seeks to provide for the establishment of the Civil Asset Recovery and Management Agency for the recovery of criminal property.

The Bill proposes the recovery of wealth accrued by criminal activity through the use of the remedies of:

- restriction in dealings with civil assets,

- restriction and forfeiture of criminal property,

- management of criminal property,

- unexplained wealth orders.

Winding up the debate in parliament, Attorney General Faris Al-Rawi denied that the Bill put law-abiding businessmen at risk.

He said if he falls under the criteria of the Bill, he is prepared to explain his wealth before the courts. 

According to the AG, this law has no exception for sitting members of Government and puts him at the top of the line to be audited.

 

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