2. Objectives of the Act

The objectives of this Act shall be to —

disincentivize the committing of unlawful activities for the purpose of benefitting from the proceeds of such unlawful activities;

prevent and deprive any person from benefitting from the proceeds of unlawful activities committed by such person or by any other person;

facilitate the investigation into the committing of unlawful activities including bribery and corruption, drug trafficking, terrorist financing and other organized and financial crimes;

provide for the recognition, adoption and enforcement of special investigation techniques and cooperation between domestic law enforcement and administrative authorities pertaining to investigation of proceeds of crime;

facilitate and provide for the tracing, identification and recovery of proceeds of crime;

provide for restraining the use and seizure of proceeds of crime;

provide for the issuance of judicial orders for the judicial freezing of proceeds of crime;

provide for protection, preservation and management of proceeds of crime including the disposal of proceeds of crime under certain circumstances pending the conduct and completion of forfeiture proceedings;

deter the committing of unlawful activities which yield proceeds of crime;

provide for legislative mechanisms for the conduct of judicial proceedings and the issuance of judicial orders for the forfeiture of proceeds of crime –

recognize and provide a cause of action in civil law to enable victims of crime to recover loss or damage through civil litigation;

establish a statutory authority for the protection, preservation, management and disposal of restrained, seized or frozen proceeds of crime;

provide a mechanism for the management and the use of the realized value of the disposal of forfeited proceeds of crime;

establish a Trust Fund to provide for restitution and reparation to victims of crime;

provide a mechanism for cooperation, mutual assistance and reciprocity with judicial, law enforcement and administrative authorities of other countries pertaining to the recovery of proceeds of crime or value located overseas and for repatriation of the value of proceeds of crime located in Sri Lanka; and

give effect to Sri Lanka’s obligations under the United Nations