Robert Hart, Parliamentary Reporter
THE CONTROVERSIAL money laundering amendment legislation that sparked outcry late last year has been scrapped.
The legislation had come under intense scrutiny because of its proposed widening of the pool of entities required to inform the police of suspicious financial transactions.
Speaking to The Gleaner yesterday, Minister of Finance, Dr. Omar Davies, said a decision had been taken to include the provisions, intended by the legislation, in the Forfeiture of Assets (Proceeds of Crime) Bill. "It's being subsumed," Dr. Davies emphasised.
The Proceeds of Crime legislation is to be brought before the House of Representatives by Dr. Peter Phillips, the minister of national security.
The legislation is one of a slew of bills Prime Minister P.J. Patterson recently indicated would be fast-tracked and brought before Parliament by the end of July, to assist in the fight against crime.
Among those who were to be affected by the non-existent money laundering amendment legislation were lawyers, real estate agents and used car dealers - all of whom had objected to their proposed role as Government informants.
After the first committee meeting was held on the money laundering legislation last December, Audley Shaw, Opposition spokesman on finance, described the bill as flawed and 'pitchy patchy' and demanded that it be withdrawn.
Mr. Shaw's comments had come following concerns raised by the Attorney-General's Chambers, that the Ministry of Finance and Planning had failed to make "fundamental adjustments" to the proposed legislation.
No further meeting of the committee was held after that December meeting chaired by an apparently frustrated Dr. Davies.
