As enacted

Contents

Prevention of Money Laundering Act 2006 · As enacted · Part II · Freezing and Forfeiture of Assets in Relation to the Offence of Money Laundering

12. Property tracking and monitoring

Official English translation. The Sinhala text prevails. Open the official Sinhala text, official PDF on documents.gov.lk

(1)

Any Police Officer not below the rank of a

Superintendent of Police shall take possession of, and otherwise deal with, any account, property or investment, which is subject to a Freezing Order, and the Court may on application of the said Police Officer and for the purpose of determining in whom the ownership, possession or control of any property to which the Freezing Order relates, lies, Order:—

(a)

that any document relevant to—

(i)

identifying, locating or quantifying that property;

(ii)

establishing the ownership, possession or control of that property, be delivered forthwith to the Police Officer; and

(b)

that a named institution furnish to the Receiver all information obtained by the institution about any business transaction conducted by or for that person with the institution during such period before or after the date of the Order as the Court may direct.

(2)

The Court making an Order under subsection (1) shall upon being satisfied that any person is failing to comply with, is delaying or is otherwise obstructing the execution of, an order made under subsection (1) make Order authorising the Police Officer to enter and search any premises of that person, and remove any document, material or other thing therein for the purpose of executing such Order.

(3)

Upon determining in whom the ownership, possession or control of any property to which the Freezing Order relates, lies, the Police Officer shall report the same to the Court making the Freezing Order, along with all documents establishing and supporting such ownership, possession or control, as the case may be.

Read on from s 13

Part III

General

Read on from Part III

Part IV

Provisions Relating to Extradition and Mutual Assistance in Relation to the Offence of Money Laundering

Read on from Part IV