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ORDINANCE XXVII OF 2009 ORDINANCE XXVII OF 2009 ANTI-MONEY LAUNDERING ORDINANCE, 2009 An Ordinance to provide for prevention of money Laundering [Gazette of Pakistan, Extraordinary, Part I, 26th November, 2009] No.2 (I) 12009-Pub., dated 26-11-2009.--The following Ordinance promulgated by the President is hereby published for general information: Whereas, it is expedient to provide for prevention of money laundering and forfeiture of property derived from, or involved in, money laundering and for matters connected therewith or incidental thereto; And, whereas the National Assembly is not in session and the President is satisfied that circumstances exist which render it necessary to take immediate action; Now, therefore, in exercise of the powers conferred by clause (1) of Article 89 of the Constitution of the Islamic Republic of Pakistan, the President is pleased to make and promulgate the following Ordinance:- 2. Definitions.--In this Ordinance, unless there is anything repugnant in the subject or context,-- (a):"attachment" means prohibition of transfer, conversion, disposition or movement of property by an order issued under section 8; (b) "Company" means any body corporate and includes a firm or other association of individuals; (c) "CTR" means report on currency transactions exceeding such amount as may be specified by the National Executive Committee by Notification in the official Gazette; (d) "Court" means the Court specified under section 20: (e) "Director General" means the Director General of FMU appointed under section 6; (f) "Financial institution" includes any institution carrying on any one or more of the following activities, namely: (i) Acceptance of deposits and other repayable funds from the public; (ii)? Lending in whatsoever form; (iii) Financial leasing; (iv) Money or value transfer; (v) issuing and managing means of payments including but not limited to credit and debit cards, cheques, travelers cheques, money orders, bank drafts and electronic money; (vi) Financial guarantees and commitments; (vii) Trading in-- (a) Money market instruments; (b) Foreign exchange; (c) Exchange, interest rate and index instruments; (d) Transferable securities; and (e) Commodity futures trading; (viii) Participation in shares issues and the provision of services related to such issues; (ix) Individual and collective portfolio management; (x) Safekeeping and administration of cash or liquid securities on behalf of other persons; (xi) Investing, administering or managing funds or money on behalf of other persons; (xii) Insurance business transactions; (xiii) money and currency changing; and (xiv) carrying out business as intermediary. (g) "fiscal offence" means an offence punishable under the Income Tax Ordinance, 2001 (XLIX of 2001), the Federal Excise Act, 2005, the Customs Act, 1969 (IV of 1969) except sections 2(s), 15, 16, 32, 32A and 158 thereof; the Sales Tax Act, 1990 and any other law as the Federal Government may notify in this behalf; (h) "FMU" means the Financial Monitoring Unit established under section 6; (i) "Foreign serious offence" means an offence-- (i) against the law of a foreign State stated in a certificate issued by, or on behalf of, the government of that foreign State; and) (ii) Which, had it occurred in Pakistan, would have constituted a predicate offence; (j) "Investigating or prosecuting agency" means the National Accountability Bureau (NAB), Federal Investigation Agency (FIA), Anti-Narcotics Force (ANF) or any other law enforcement agency as may be notified by the Federal Government for the investigation or prosecution of a predicate offence; (k) "Investigating officer" means the officer nominated or appointed under section 24; (1) "National Executive Committee" means the National Executive Committee constituted under section 5; (m) "non-financial businesses and professions" means real estate agents, jewelers, dealers in precious metals and precious stones, lawyers, notaries and other legal professionals, accountants, trust and company service providers and such other non-financial businesses and professions as may be notified by the Federal Government; (n) "Offence of money laundering" has the meaning as defined in section 3; (o) "Person" means an individual, a firm, an entity, an association or a body of individuals, whether incorporated or not, a company and every other juridical person; (p)"prescribed" means prescribed by rules made under this Ordinance; (q)"proceeds of crime" means any property derived or obtained directly or indirectly by any person from the commission of a predicate offence or a foreign serious offence; (r) "property" means property or assets of any description, whether corporeal or incorporeal, movable or immovable, tangible or intangible, and includes deeds and instruments evidencing title to, or interest in, such property or assets, including cash and monetary instruments, wherever located; (s) "Predicate offence" means an offence specified in the Schedule to this Ordinance; (t) "Record" includes the records maintained in the form of books or stored in a computer or any electronic device, or such other form as may be prescribed; (u) "Reporting entity" means an entity specified in clause (f) or clause (m) and includes any other entity designated as such by Federal Government by notification in the official Gazette; (v) "SBP" means State Bank of Pakistan established under the State Bank of Pakistan Act, 1956 (XXXIII of 1956); (w) "Schedule" means schedule to this Ordinance; (x) "SECP" means Securities and Exchange Commission of Pakistan established under the Securities and Exchange Commission of Pakistan Act, 1997 (XLII of 1997); (y) "Suspicious Transactions Report" means the report on suspicious transactions specified under section 7; and (z) "Transfer" means sale, lease, purchase, mortgage, pledge, gift, loan, or any other form of transfer of right, title, possession or lien.