Bill in LS for prevention of terror financing

Last Updated: Thursday, December 29, 2011 - 17:02

New Delhi: A bill to provide for effective
prevention of terror financing, counterfeiting of Indian
currency and to raise the period of banning an unlawful
organisation from two to five years, was introduced in the Lok
Sabha on Tuesday.

The Unlawful Activities (Prevention) Amendment Bill,
introduced by Minister of State for Home Jitendra Singh,
includes provisions to prevent the use of biological,
radiological, nuclear material or device for terror or other
illegal acts.

It provides for an increase in the period of declaration
of an association as unlawful from two to five years, the
Statement of Objects and Reasons of the Bill said.

The Bill, which was brought on the basis of international
commitments made by India, enlarges the scope of the Act
relating to punishment for raising funds for terror acts.

It includes new provisions to "include within its scope,
offences by companies, societies or trusts and provide for
punishment".

The legislation also includes provisions for forfeiture
and attachment of properties linked with terrorism or
counterfeit currency.

India was recently admitted as the 34th member of the
Financial Action Task Force, an Inter-Governmental
organisation set up to devise policies to combat money
laundering and terror financing.

On the basis of India`s commitments to the Task Force,
various legislative and legally-binding measures were required
to be taken by March 31 next year.

In order to give effect to these commitments, the
legislation was introduced to make the Unlawful Activities
(Prevention) Act of 1967 more effective in preventing
terrorist and other unlawful activities.

PTI



First Published: Thursday, December 29, 2011 - 17:02

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