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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:- 11. Management of forfeited properties.--(1) The Federal Government may, by order published in the Official Gazette, appoint as many trustees and a receiver as it thinks fit to perform the functions of an Administrator. (2) The Administrator appointed under subsection (1) shall receive and manage the property in relation to which an order has been made under subsection (6) of section 9 in such manner and subject to such conditions as may be prescribed. (3) The Administrator shall also take such measures, as the Federal Government may direct, to dispose of the property which is vested in the Federal Government under section 10: (4) Provided that, where the property seized is perishable in nature or subject to speedy and natural decay, or when the expense of keeping it in custody is likely to exceed its value, the Administrator may sell it at once after reasonable notice to the Federal Government.