Object of the Bill
The object of the Bill is—
(a) to criminalise money laundering and to provide for specific measures to detect and deter money laundering and to facilitate the investigation and prosecution of money laundering offences, including,
(i) establishing record keeping and customer due diligence requirements for financial services providers and other persons that engage in business, professions or activities that are susceptible to being used for money laundering;
(ii) the reporting of suspicious financial transactions and of cross-border movements of currency and monetary instruments, and
(iii) establishing a Financial Intelligence Authority that is responsible for dealing with reported, suspicious and large cash transaction reports and other information,
(b) to respond to the threat posed by organized crime by providing law enforcement officials and authorities with the information they need to deprive criminals of the proceeds of their criminal activities, while ensuring that appropriate safeguards are put in place to protect the privacy of persons with respect to personal information about themselves; and
(c) to enable Uganda to fulfil its international commitments to participate in the fight against transnational crime, particularly money laundering.
Bill Document
Other Attachments
The Anti-Money Laundering Bill, 2009
Sponsored By Hon. Syda N.M. Bbumba (Minister of Finance, Planning and Economic Development)
Committee: The Committee on Finance, Planning and Economic Development
Start
First Reading/Committee
Bill is still at First Reading, the first reading being the first stage of a Bill passage through the Floor of Parliament and is usually a formality, it takes place without debate, and the first reading of a Bill can occur anytime in a parliamentary session.
Second Reading
Bill is in the second stage. The second reading is the first opportunity for MPs to debate the main principles of the Bill. It usually takes place up to 45 days after the first reading. Once second reading is complete the Bill proceeds to committee stage where each clause (part) and any amendments (proposals for change) to the Bill may be debated
Third Reading
Parliament is passing the Bill. The third reading is the final chance for the Members of Parliament to debate the contents of a Bill. Here debate on the Bill is usually short and limited to what is actually in the Bill rather than, as at the second reading, what might have been included.
Presentation/Waiting Assent
Waiting for Assent. Bill is waiting for the President to assent to it. When the Floor of Parliament has passed a Bill, it shall be presented to the President, and the President shall declare either that he assents to the Bill or that he withholds assent.
Assented by President
The Bill is now an Act of Parliament. When a Bill has completed all its parliamentary stages on the floor of Parliament, it must have President Assent before becoming an Act of Parliament (law). President Assent is the State agreement to make the Bill into an Act and it is a formality.
End
Bill passed on 02/10/2013
The Bill is now an Act of Parliament. When a Bill has completed all its parliamentary stages on the floor of Parliament, it must have President Assent before becoming an Act of Parliament (law). President Assent is the State agreement to make the Bill into an Act and it is a formality.
Bill Withdrawn on 01/01/1970