Cabinet Business - Wednesday 11th November 2020
12 November 2020
President Wavel Ramkalawan chaired an Extra-Ordinary meeting of the Cabinet yesterday, Wednesday 11th November at which a number of legal papers were considered.
Cabinet approved proposed amendments to the Proceeds of Crimes (Civil Confiscation) Act, 2008.
Cabinet also approved for Amendments to the Regulations under the Anti-Money Laundering and Countering the Financing of Terrorism Act, 2020.
The new amendments will clarify the intent of Government behind Sections 45 (3) and (4) of the Act to ensure that there is a common and shared understanding and that it effectively addresses the FATF (Financial Action Task Force) requirements.
Cabinet also discussed various issues related to the economic situation of the country and agreed that the President would shortly make a statement on these matters to the National Assembly.