The President Mr, Nursultan Nazarbayev signed amendments to the Law on Counteracting the Legalization (Laundering) of Ill-gotten Proceeds and Terrorist Financing, Zakon.kz reports citing the Akorda press service.
The Law of the Republic of Kazakhstan “On Introduction of Amendments and Additions to Certain Legislative Acts of the Republic of Kazakhstan on Counteracting the Legalization (Laundering) of Ill-gotten Proceeds and Terrorist Financing”, is aimed at improving the system of counteracting the legalization of ill-gotten proceeds and terrorist financing.
The text of the Law is published in the press.
The Law contains a number of norms, such as expanding the list of items subject to financial monitoring for the purposes of counteracting the shadow economy, definition of terms “state policy in the sphere of counteracting the legalization (laundering) of ill-gotten proceeds and terrorist financing.
In addition, it provides for the establishment of a mechanism for the freezing of assets of individuals and entities associated with the financing of terrorism and extremism, the establishment of a mechanism allowing access to that part of the suspended (frozen) assets, which is essential for basic living needs of persons included in the list of organizations and individuals associated with financing of terrorism and extremism.
Name of “MinTax” used in this proposal, depending on the context, can refer to MinTax LLP or MinTax Audit LLP and to its structural subdivisions as well. MinTax LLP and MinTax Audit LLP are included into MinTax Group acting on the basis of the Partnership Agreement, and are considered to be separate and independent legal entities founded under the Republic of Kazakhstan legislation, and they are responsible for all rights and obligations only on their behalf. The Companies which are included in MinTax Group are not responsible for any actions or omissions of each other
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