The Committee on fighting Organized Crime and Corruption recommends that the Parliament withdraws the Bill on Amendments to certain Laws of Ukraine concerning Revision of Sanctions and Definition of Authorities in the field of preventing and fighting Legalization (Laundering) of Illegally Obtained Income

23 December 2008, 12:29

The Bill (Reg .No.2410), submitted by the Cabinet of Ministers of Ukraine, specifies certain regulations appertaining to preventing and fighting legalization (laundering) of illegally obtained income. The Bill introduces relevant amendments to the Laws "On Financial Services and State Regulation of the Financial Services Market" (re Authorities of the State Commission for Securities and Stock Market) and "On preventing and fighting Legalization (Laundering) of Illegally Obtained Income" (re Responsibility for Violation of this Law).

 

The Committee members stated that on 25 September 2008, the Parliament adopted a new version of the Law "On preventing and fighting Legalization (Laundering) of Illegally Obtained Income" (Reg. No. 3062) as a basis.

 

On 16 December 2008, the Bill on Amendments to certain Legislative Acts of Ukraine concerning Responsibility for Infringements at the Securities Market (Reg. No. 2614) was adopted as a basis. The Bill supplements the Criminal Code of Ukraine with new clauses, and introduces amendments to the Law "On State Regulation of the Securities Market".  

 

Since the Bill (Reg. No.2410) submitted by the Cabinet of Ministers duplicates regulations of the Bills that have already been adopted as a basis, the Committee members recommend that the governmental Bill be withdrawn from consideration.