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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:- 5. National Executive Committee to combat money laundering.-(1) Within thirty days of the commencement of this Ordinance the Federal Government shall, by notification in the official Gazette, constitute a committee to be known as the National Executive Committee which shall consist of the following members, namely: (a) Minister for Finance or Advisor to the Prime Minister on Finance. Chairman (b) Minister for Foreign Affairs, Member (c) Minister for Law and Justice Member (d) Minister for Interior Member (e) Governor SBP Member (f) Chairman SECP Member (g) Chairman NAB Member (h) Director General, FMU Member (i) Any other member to be nominated by the Federal Government. (2) The Director General, FMU shall also act as Secretary of the National Executive Committee. (3) The National Executive Committee shall- (a) Meet regularly to develop, co-ordinate and publish an annual national strategy to fight money laundering and financing of terrorism; (b) Determine offences existing in Pakistan that may be considered to be predicate offences for the purposes of this Ordinance; (c) Provide guidance and sanction in framing of rules and regulations under this Ordinance; (d) Make recommendations to the Federal Government for effective implementation of this Ordinance and framing of national policy to combat money laundering and financing of terrorism; (e) Issue necessary directions to the agencies involved in the implementation and administration of this Ordinance; (f) Discuss any other issue of national importance relating to money laundering and financing of terrorism; (g) Approve FMU's budgetary proposals for achieving the objects of this Ordinance; (h) Approve FMU's staffing requirements, pays, allowances, privileges and compensation packages and other matters incidental thereto; - (i) take measures as necessary for development and review of performance of investigating agencies, FMU and the financial institutions and non-financial businesses and professions, relating to anti-money laundering and combating financing of terrorism; (j) review training programs for Government, financial institutions, non-financial businesses and professions and other persons, relating to anti-money laundering and combating financing of terrorism; and (k) Undertake and perform such other functions as assigned to it by the Federal Government, relating to money laundering and financing of terrorism. (4) The National Executive Committee shall be assisted by a General Committee to be composed of-- (a) Secretary Finance Chairman (b) Secretary Interior Member (c) Secretary Foreign Affairs Member (d) Secretary Law Member (e) Governor SBP Member (f) Chairman SECP Member (g) Director General, FCIW, NAB Member (h) Director General, FMU Member (i) Any other member to be nominated by the Federal Government. (5) The Director General, FMU shall also act as Secretary of the General Committee. (6) The General Committee may invite any person to participate in the meeting as it deems necessary. (7) The General Committee shall, inter alia:-- (a) take measures as necessary for development and review of performance of investigating agencies, FMU and the financial institutions and non-financial businesses and professions, relating to anti-money laundering and combating financing of terrorism; (b) review training programs for Government, financial institutions, non-financial businesses and professions and other persons, relating to anti-money laundering and combating financing of terrorism; (c) Provide necessary assistance to the National Executive Committee in carrying out its functions and duties under this Ordinance; (d) Discuss any other issue of national importance relating to money laundering and financing of terrorism; and (e) Undertake and perform such other functions as assigned to it by the National Executive Committee.