3

ACT XXX OF 2020 ACT XXX OF 2020 ANTI-MONEY LAUNDERING (SECOND AMENDMENT) ACT, 2020 An Act further to amend the Anti-Money Laundering Act, 2010 [Gazette of Pakistan Extraordinary, Part I, 24th September, 2020] No. F.22(50)/2020-Legis, dated 23.9.2020.---The following Act of Majlis-e-Shoora (Parliament) received the assent of the President on the 22nd September, 2020 is hereby published for general information:- WHEREAS it is expedient further to amend the Anti-Money Act, 2010 (VII of 2010), for the purposes hereinafter appearing; It is hereby enacted as follows:- 3. Substitution of section 4, Act VII of 2010.---In the said Act, for section 4, the following shall be substituted, namely;- "4. Punishment for money laundering.---(1) Whoever commits the offence of money laundering shall be punished with rigorous imprisonment for a term which shall not be less than one year but may extend upto ten years and shall also be liable to fine which may extend upto twenty-five million rupees and shall also be liable to forfeiture of property involved in money laundering or property of corresponding value. (2) The fine under subsection (1) may extend upto one hundred million rupees in case of a legal person. Any director, officer or employee of such legal person who is also found guilty under this section shall also be punishable as provided under subsection (1).".