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Registration of Bills to amend twenty laws


Nepalnews
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2023 Feb 11, 15:51, Kathmandu
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Bill, 2023 to amend some laws related to the prevention of money laundering and promotion of the business environment, has been registered in the Parliament.
Federal Parliament Secretariat spokesperson Ekram Giri informed that the Ministry of Law, Justice, and Parliamentary Affairs had registered the bill on Friday. This is the first bill registered in the current session.
20 laws related to money laundering are about to be amended. Through the bill registered in the House of Representatives, the Export-Import (Control) Act 2013, Vessel Registration Act  1971, Cargo Act  1978, Tourism Act 1979, Building Act 1999, Damasahi Act 2007, Securities Act 2007, Nepal Rashtra Bank Act 2002, Human Trafficking and Trafficking ( (Control) Act, 2008 and Criminal Assets and Instruments (Seizure, Control, and Confiscation) Act 2014 are going to be amended.
Similarly, the Money Laundering Prevention Act 2064, Mutual Legal Assistance Act 2014, Organized Crime Prevention Act 2014, Electricity Regulatory Commission Act 2018, Cooperatives Act 2018, Foreign Investment and Technology Transfer Act 2019, and Insurance Act  2023 are going to be amended. . Amendments have also been proposed to the Civil Crime Code  2018 and the Civil Criminal Procedure Code  2018 through the bill.
By amending the Export Imports (Control) Act, it is going to set up a provision for the formation of a 'Trade Transparency Unit'. The main task of such a unit will be to coordinate with established international bodies to maintain transparency in business.
It has been proposed in the Bill to amend the Property Act to have a provision to obtain a license for real estate transactions. "The government of Nepal shall publish a notice in the Nepal Gazette and obtain a license for real estate transactions exceeding the area or amount specified in the notice", the bill states.
Likewise, the provisions related to casinos in the Tourism Act are going to be amended. By amending the Nepal Rastra Bank Act, the work of regulation, inspection, and supervision of institutions dealing in savings and loans is going to be brought under the jurisdiction of the Rastra Bank.

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