chhatramani/Nepal-Legal-Text-Corpus-44laws huggingface dataset:
Money Laundering Prevention Act 2064

Chapter-8 Miscellaneous

Section 35G: Qualifications of the Controller
The following qualifications must be met in order to be listed as a maintenance examiner:
a) At least five years’ experience in the field of prevention of financial investment, economic or financial management, management, public accounts or financial management, economics or law, having obtained a Master’s degree in Chartered Accountancy and at least five years’ experience in the field of prevention of economic investment in asset laundering or terrorist activities,
b) Having received training as prescribed in the field of prevention of financial investment in asset laundering or terrorist activities and
c) Not being ineligible under section 35H.

Money Laundering Prevention Act 2064

Chapter-8 Miscellaneous

Section 35H: The Examiner is Ineligible
1) A person shall be deemed to be ineligible to be listed as a maintenance examiner in accordance with section 35F:
(a) Non-citizens of Nepal;
(b) Has defaulted in repayment of the loan within Nepal or abroad,
(c) Has not completed at least five years from the date of default in any transaction with a bank or financial institution or co-operative institution within Nepal or abroad,
(d) The director, officer or employee of the indexing institution, regulatory body or research body,
(e) Has a financial interest in, or a stake in, or a personal interest in, any contractual lease;
Provided that for the purposes of this clause, a person who owns less than one per cent of the shares or is a legal adviser or auditor shall not be deemed to have any personal or financial interest.
(f) Non-payment of tax payable in accordance with the prevailing law,
(g) Convicted by a court of law of a crime involving financial investment in the creation and expansion of weapons of mass destruction, terrorist acts, or other serious crimes or heinous crimes,
(h) Imprisonment in accordance with the decision of the court, pending payment of fine.
2) Notwithstanding anything contained in sub-section (1) and section 35G, it shall not be deemed that the Indicating Entity itself or the Regulating Entity has, in special circumstances, prevented any Indicating Entity itself or the Regulating Entity from carrying out or causing to be carried out special maintenance tests or risk assessments by domestic or foreign experts or jointly as may be prescribed by any Indicating Entity in special circumstances.
3) Before conducting the maintenance test of an indicator institution pursuant to section 35E, the maintenance examiner shall conduct an independent review of the risk assessment of such an institution pursuant to section 35F or a Nepalese expert on risk.
Provided that no special reason will prevent the regulatory body from being informed if a foreign expert conducts such a review or maintenance test.
Money Laundering Prevention Act 2064

Chapter-8 Miscellaneous

Section 35I: Duties, Rights and Responsibilities of Supervisor
The functions, duties and powers of the Administrative Examiner to inspect the index institution in accordance with section 35E shall be as follows:
(a) To have access to any particulars and documents of the indexing institution,
(b) To obtain necessary information from any officer and employee of the institution;
(c) To comply with the instructions or guidance given by the financial information entity and the regulatory body in relation to the inspection or to use the information provided in relation to the indicative entity in the course of the inspection,
(d) To exercise the functions, duties and powers conferred on the external auditor in accordance with the law in force;
(e) To submit a report to the Board of Directors within one month of each year;
(1) The report of the inspection shall be submitted to the Board of Directors or the head of the institution,
(2) The long firm report to the regulatory body,
(3) The relevant part of the report on the transaction beyond the prescribed limit and suspicious transactions in the Financial Information Unit.
(f) To perform other functions that may be prescribed in connection with the inspection.

Money Laundering Prevention Act 2064

Chapter-8 Miscellaneous

Section 36: Property or Instrumentality to Be Released
In case the property or instrumentality frozen pursuant to Section 18 proves to have no criminal origin, the Department, if the case has not been filed, or the court hearing the case if the case has been filed, shall order the concerned authority which has frozen the property or instrumentality to release such property or instrumentality and the concerned entity shall release such property or instrumentality upon such order.

Money Laundering Prevention Act 2064

Chapter-8 Miscellaneous

Section 37: Not to be Liable for Providing Information
1) No staff or official of
Reporting Entities
is supposed to have violated the professional or financial norms prescribed under other prevailing laws if such act has been carried out in the course of discharging duties under this Act up to the level of performance mandated under this Act.
2) No criminal, civil, disciplinary or administrative action or sanction shall be taken against a government agency, reporting entity, or any of their official or staff who, in good faith, submit reports or provide reports, documents, information, notice or records in accordance with the provisions of this Act, rules and directives issued thereunder as a breach of secrecy provision under prevailing laws or contractual, administrative or regulatory liability.
Money Laundering Prevention Act 2064

Chapter-8 Miscellaneous

Section 38: Auction to be Made
1) Where, upon being stored for a long period, the goods seized in relation to an offence punishable under this Act are likely to suffer any damage or breakage due to stain or any other cause, rot, depreciate in value, or where it is not possible to maintain or preserve the goods due to lack of space for storage, the same may be auctioned by fulfilling the procedures as prescribed by the prevailing laws.
2) The proceeds obtained from the auction sale pursuant to Sub-Section (1) shall be balanced in the deposit account. If it is subsequently decided to give such goods back to the owner, the owner shall be entitled to the amount received from such auction.

Money Laundering Prevention Act 2064

Chapter-8 Miscellaneous

Section 39: Departmental Sanction to the Staff involved in Investigation and Inquiry
If any Investigation Officer or staff of the Department acts with the mala fide intention to cause troubles or tension to anyone in the course of investigating and inquiry of offences under this Act, the secretary of the concerned ministry, where the investigation officer is the chief of the department himself or the chief of the department, shall award departmental sanction notwithstanding whatever is mentioned in prevailing laws.

Money Laundering Prevention Act 2064

Chapter-8 Miscellaneous

Section 40: Provisions Relating to Delivery of Notice
1) Notwithstanding anything contained in the prevailing laws, a summon to be served to a foreign national in connection with an offence under this Act shall be served to the office or representative of such person in Nepal, if any, and the notice so served shall be deemed to have been duly served.
2) In case no office or representative as stipulated under sub-section (1) exists, the notice shall be served to the main place of business of such person or his/her permanent residential address or the mailing address if provided by him/her in the course of business, through telex, telefax or other means of telecommunication or through registered mail and the summon so served shall be deemed to have been duly served.
3) Notwithstanding anything mentioned in sub-section (1) or (2), this section shall not bar serving the summon to the foreign national as per the specific provision contained in the treaty to which Nepal or the Government of Nepal is a party if there is any.

Money Laundering Prevention Act 2064

Chapter-8 Miscellaneous

Section 41: Notice to be Published
In case a notice or summon can not be served to any person as per this Act or any other prevailing law because the address of such a person is not identified or because of any other reason and a report thereof is received, a notice containing a brief detail of the case shall be published in national level newspaper (in English daily in case of foreign national) at least twice requiring the concerned person to appear within thirty days before investigating authority or adjudicating authority where charge has been filed. If such notice is so published, it shall be deemed duly served to such person, notwithstanding anything in prevailing laws.
Money Laundering Prevention Act 2064

Chapter-8 Miscellaneous

Section 42: Interpretation of Intention
The interpretation of the knowledge, intent, or purpose of the person accused of money laundering or terrorist financing shall be inferred from objective factual circumstances.

Money Laundering Prevention Act 2064

Chapter-8 Miscellaneous

Section 43: No Obstruction to Adjudication and Settlement Proceedings
Notwithstanding anything mentioned in prevailing laws, no death of the suspect before or after the charge filing shall bar the adjudication and settlement proceedings of a case under this Act.

Money Laundering Prevention Act 2064

Chapter-8 Miscellaneous

Section 44: Waiver of Penalty
The investigation officer may present an accused person cooperating with the investigation and inquiry proceedings as a prosecutor’s witness and may provide such person with a full or partial penalty waiver in the case initiated under this Act.
Provided that notwithstanding anything mentioned in this Act or in prevailing laws, a lawsuit may be reregistered against such person if his cooperation could not be corroborated by other evidence or if such accused makes a statement before the adjudicating officer against the cooperation extended to the investigation and inquiry officer.
Money Laundering Prevention Act 2064

Chapter-8 Miscellaneous

Section 44A: Information or Particulars not to be Disclosed
1) No reporting entity, nor its official or staff shall disclose to its customer or any other person that the following report, document, record, notice or information concerning suspected money
laundering or terrorist financing or predicate offence has been or is being submitted:
(a) Report of suspicious or threshold transaction,
(b) Report of ongoing monitoring order pursuant to section 19A,
(c) Any document, record or information provided to the Financial Information Unit, investigation officer or investigation authority pursuant to prevailing laws or regulator,
(d) Other details or information to be provided by the reporting entity under this Act, rules and directives thereunder,
(e) Individual introductory details of an official or staff member providing report, document, document, notice or information from (a) to (d).
2) The Department, investigation officer or staff of the Department, investigation authority, pursuant to prevailing laws, shall not disclose any information about the personal or institutional details of the reporting institution, Financial Information Unit or their official or staff submitting a notice or report or document, record or information that will identify or is likely to identify the
Reporting Entities
or Financial Information Unit and a person or official reporting or disseminating in relation to the offence of money laundering, terrorist financing or predicate offence to anyone.
3) No information that discloses or may disclose the introduction of an official, staff member, agency, or institution stipulated above shall be disclosed, even in judicial proceedings.
4) The following authority may impose the following sanction at each event of a violation of the provision of this section as follows:
(a) Regulator to fine up to one million rupees to the bank and financial institution or to the  casino,
(b) Regulator to fine up to two hundred thousand rupees to other designated non-financial businesses and professions,
(c) Reporting entity to take departmental action to its official or staff under their own laws,
(d) Notwithstanding whatever is written in the prevailing laws of service, the concerned authority to take departmental action against the Chief, investigation officer or staff of the Department or investigation officer pursuant to prevailing laws,
(e) Notwithstanding whatever is written in the prevailing laws of service, departmental action to the head and staff of the Financial Information Unit.
Money Laundering Prevention Act 2064

Chapter-8 Miscellaneous

Section 44B: Confidentiality Provision
1) Notwithstanding whatever is written in prevailing laws, no document, record, detail, notice or information stated to have remained confidential under the prevailing laws shall be confidential to the Department of Financial Information Unit for the performance of the duty under this Act.
2) For the purpose of sub-section (1), the concerned agency, official, or person shall make available the document, record, detail, notice or information if they were asked by the Department of Financial Information Unit specifying the objective.
3) According to the existing law, the investigation officer or Financial Information Unit will demand that the documents, records, details, information, or information be kept confidential. Other arrangements for providing such documents, records, details, and information will be made as prescribed.

Money Laundering Prevention Act 2064

Chapter-8 Miscellaneous

Section 44C: Transaction With Financial Institutions or Banking Institutioins
1) the Government of Nepal may, in consultation with the Rastra Bank, by publishing a notification in the Nepal Gazette, make arrangements for the purchase, sale and other transactions of any services or goods of the prescribed value or above to be made only through financial institutions or banking instruments.
2) It shall be the duty of all concerned to ensure that the purchase, sale and other transaction of goods or services referred to in the notice pursuant to sub-section (1) are made through financial institutions or banking instruments without cash.

Money Laundering Prevention Act 2064

Chapter-8 Miscellaneous

Section 44D: Nominal Expenses may be allowed
1) Where all asset of an individual is frozen in the course of investigation and inquiry of the offence of
Money Laundering (ML), Terrorist Financing (TF)
or in the course of the proceeding of the case and there is no other means or source of the concerned person or his/her dependents, the court may order the department to release the portion of the asset required for basic condition of livelihood. The department shall act upon the court’s order.
2) If there is an order pursuant to subsection (1), the investigating office shall make such property available to such person.

Money Laundering Prevention Act 2064

Chapter-8 Miscellaneous

Section 44E: Processing Records by Computer as Evidence
1) Notwithstanding anything contained in any existing laws, except if it is proved otherwise for the purpose of this Act, the record processed or developed by electronic means can be taken as evidence.
2) The essential provisions for receiving, analysing, or processing records, particulars, and data shall be as prescribed.

Money Laundering Prevention Act 2064

Chapter-8 Miscellaneous

Section 44F: Information to be Provided to the Ministry of Foreign Affairs
The Department, Regulator or Financial Information Unit shall immediately inform the Ministry of Foreign Affairs if a memorandum of understanding was concluded with a foreign counterpart
pursuant to this Act.
Money Laundering Prevention Act 2064

Chapter-8 Miscellaneous

Section 44G: Creating Standards
The Government of Nepal may apply the necessary criteria for the exchange of international assistance other than mutual legal assistance provided per the law on controlling financial crimes.

Money Laundering Prevention Act 2064

Chapter-8 Miscellaneous

Section 44H: Report to be Submitted
1) The indexing institution carrying out activities in accordance with this Act shall prepare an annual report containing a review of its activities during the year and submit it to the regulatory body within two months of the end of the financial year.
2) The regulatory bodies, research bodies and other bodies concerned shall prepare an annual report with a review of the work done by them during the year in the format determined by the Coordination Committee and send it to the Committee through the relevant Ministry within three months of the end of the financial year.
3) When the regulatory body prepares a report in accordance with sub-section (2), the referring body shall include the subject matter of the report submitted in accordance with sub-section (1) in a concise and integrated manner.
4) The Coordinating Committee shall prepare an annual report and submit it to the Board of Directors based on the report received pursuant to sub-section (2).
5) Based on the report pursuant to sub-section (4), the Board of Directors shall finalise and submit the annual report to the Government of Nepal, which shall then submit such report to the Federal Parliament.

Money Laundering Prevention Act 2064

Chapter-8 Miscellaneous

Section 45: Reward
1) Any person who files a complaint, provides information and cooperates with the inquiry and investigation or evidence collection shall be entitled to receive ten percent of the claimant’s value or rupees one million, whichever is lower, if the allegation is established.
2) If there is more than one person pursuant to sub-section (1), such amount shall be distributed proportionately.

Money Laundering Prevention Act 2064

Chapter-8 Miscellaneous

Section 46: Rules May be formulated
The Government of Nepal may frame necessary Rules for implementation of the objectives of this Act.
Money Laundering Prevention Act 2064

Chapter-8 Miscellaneous

Section 47: Released Directory
The Government of Nepal may issue necessary guidelines for the effective implementation of this Act or the rules made under this Act or to comply with international standards regarding the prevention of financial investment in asset laundering and terrorist activities.
The point of view
(1) Changes made by the Second Amendment
(a) “research” “instead of the words” “research and investigation.”
(b) the words” “offence under this Act” “or” “offence punishable under this Act” “shall be substituted by” “offence relating to laundering of property and financial investment in terrorist activities.”
(c) “National Coordination Committee” instead of the words “Coordination Committee.”
(2) Words modified by the Administration of Justice Act, 2013
“High Court” “instead of the words” “Court of Appeal”
(3) The words changed by the Act to amend certain Acts relating to the Prevention of Money Laundering and Promotion of Business Environment, 2080;
(a) “terrorist act” “instead of the words” “terrorist act,”
(b) “Coordination Committee” instead of the words “National Coordination Committee.”
Money Laundering Prevention Act 2064

Schedule (Related to Section 2 of Clause (e))

Associated Offences
1. Any offence under the prevailing law:
(a) Participating in organised criminal groups and illegal or fraudulent racketeering,
(b) Relating to subversive activities, including terrorism,
(c) Relating to any form of human trafficking and transportation,
(d) Any form of sexual exploitation, including child sexual exploitation;
(e) The illicit traffic of narcotic drugs and psychotropic substances;
(f) The illegal transport of arms,
(g) Relating to the illegal transportation of stolen or other goods,
(h) Corruption and bribery;
(i) Relating to fraud,
(j) In relation to credit,
(k) The exchange of money or currency;
(l) The production of counterfeit goods and the illegal copying or piracy of products;
(m) Relating to the environment,
(n) The loss of life and limb;
(o) Abduction, illegal detention or physical confinement;
(p) Theft or robbery;
(q) Taxation (including taxes, duties, and duties);
(r) Taxes (including direct and indirect taxes);
(s) Relating to criminal benefits (Extortion),
(t) Piracy of the sea;
(u) Market manipulation or insider trading,
(v) The preservation of ancient monuments;
(w) The protection of forests, national parks and wildlife;
(x) Relating to money, banking, financial, foreign exchange, certificates of exchange, insurance or co-operative,
(y) Relating to the black market, consumer protection, competition or supply;
(z) Relating to elections,
(aa) The transmission, advertising,
(ab) In relation to transport business, education, health, medicine or foreign employment fraud,
(ac) A company, partnership or association;
(ad) Land, buildings and property;
(ae) In respect of money, property or property,
(af) Citizenship, Immigration or Passport.
2. Section 4 deals with the financing of terrorist activities,
3. any other offence as may be prescribed by the Government of Nepal by publishing the information in the Nepal Gazette, or
4. If any act which is deemed to be an offence under section (1) (2) or (3) is committed in a foreign country and such act is deemed to be an offence under the law of the country concerned, such offence shall be deemed to be an offence.
(Updated as of 2081/1/9)
सम्पत्ति शुद्धीकरण (मनी लाउन्डरिङ्ग) निवारण ऐन २०६४

प्रस्तावना
प्रमाणीकरण र प्रकाशन मिति
२०६४।१०।१४
संशोधन गर्ने ऐन
१. सम्पत्ति शुद्धीकरण (मनी लाउन्डरिङ्ग)  निवारण(पहिलो संशोधन) ऐन, २०६८                 २०६८।२।१८
२. सम्पत्ति शुद्धीकरण (मनी लाउन्डरिङ्ग) निवारण (दोस्रो संशोधन) ऐन, २०७०                  २०७०।१२।१२
३. केही नेपाल ऐन संशोधन गर्ने ऐन, २०७२                                            २०७२।११।१३
४. केही नेपाल ऐन संशोधन गर्ने ऐन, २०७५                                            २०७५।११।१९
५. सम्पत्ति शुद्धीकरण (मनी लाउन्डरिङ्ग) निवारण तथा व्यावसायिक
वातावरण प्रवर्द्धन सम्बन्धी केही ऐनलाई संशोधन गर्ने ऐन, २०८०                           २०८०।१२।३०
व्यवस्थापिका-संसदले बनाएको २०६४ सालको ऐन नं. २४
सम्पत्ति शुद्धीकरण गर्ने कार्यलाई निवारण गर्न बनेको ऐन
प्रस्तावना
; अपराधजन्य कार्यबाट प्राप्त
1
सम्पत्ति शुद्धीकरण तथा आतङ्ककारी कार्य वित्तीय लगानी गर्ने कार्यलाई निवारण
गर्ने सम्बन्धमा कानुनी व्यवस्था गर्न वाञ्छनीय भएकोले,
व्यवस्थापिका-संसदले यो ऐन बनाएको छ ।
1 दोस्रो संशोधनद्वारा संशोधित।

सम्पत्ति शुद्धीकरण (मनी लाउन्डरिङ्ग) निवारण ऐन २०६४

परिच्छेद-१ प्रारम्भिक

दफा १ः संक्षिप्त नाम, विस्तार र प्रारम्भ
१) यस ऐनको नाम “सम्पत्ति शुद्धीकरण (मनी लाउन्डरिङ्ग) निवारण ऐन, २०६४” रहेको छ ।
1
२) यो ऐन नेपालभर लागू हुनेछ र सम्पत्ति शुद्धीकरण तथा आतङ्ककारी कार्यमा वित्तीय लगानी सम्बन्धी कसूर गर्ने नेपालभित्र वा नेपाल बाहिर जहाँसुकै रहे बसेको व्यक्ति समेतलाई लागू हुनेछ ।
३) यो ऐन तुरुन्त प्रारम्भ हुनेछ ।
1 दोस्रो संशोधनद्वारा संशोधित।
सम्पत्ति शुद्धीकरण (मनी लाउन्डरिङ्ग) निवारण ऐन २०६४

परिच्छेद-२ सम्पत्ति शुद्धीकरण तथा आतङ्ककारी कार्यमा वित्तीय लगानी सम्बन्धी कसूर

दफा ३ः सम्पत्ति शुद्धीकरण गर्न नहुने
१) कुनै व्यक्तिले देहायको कुनै कार्य गर्न वा गराउन हुँदैन;
(क) सम्पत्तिको गैरकानुनी स्रोत (इलिसिट अरिजिन) लुकाउने वा छल्ने वा कसूरमा संलग्न व्यक्तिलाई कानुनी कारबाहीबाट बचाउन सहयोग गर्ने उद्देश्यले कसूरबाट प्राप्त सम्पत्ति हो भन्ने थाहा पाउँदा पाउँदै वा विश्वास गर्नु पर्ने मनासिब आधार हुँदा हुँदै त्यस्तो सम्पत्ति कुनै पनि प्रकारले रूपान्तरण वा हस्तान्तरण गर्ने,
(ख) कसूरबाट प्राप्त सम्पत्ति हो भन्ने थाहा पाउँदा पाउँदै वा विश्वास गर्नु पर्ने मनासिब आधार हुँदा हुँदै त्यस्तो सम्पत्तिको सही प्रकृति, स्रोत, स्थान, निःसर्ग (डिस्पोजिसन), कारोबार (मुभमेण्ट), स्वामित्व वा सो सम्पत्ति उपरको अधिकार लुकाउने, छल्ने वा बदल्ने, वा
(ग) कसूरबाट प्राप्त सम्पत्ति हो भन्ने जानी जानी वा विश्वास गर्नु पर्ने मनासिब आधार हुँदा हुँदै त्यस्तो सम्पत्ति प्राप्त गर्ने, प्रयोग गर्ने वा धारण गर्ने ।
२) कुनै व्यक्तिले उपदफा (१) बमोजिमको कुनै कार्यको षडयन्त्र, मद्दत, दुरुत्साहन, सहजिकरण, मतसल्लाह वा उद्योग गर्न वा सम्बद्धता वा सहभागिता जनाउन वा मतियार हुन हुँदैन।
३) कसैले उपदफा (१) वा (२) मा उल्लिखित कुनै कार्य गरेमा त्यस्तो कार्य सम्पत्ति शुद्धीकरण सम्बन्धी कसूर हुनेछ ।