News

MPs expunge Act on lawyers financial disclosure

Friday, September 20th, 2019 00:00 | By

 The contentious Proceeds of Crime and Anti-Money Laundering Act which proposes to have lawyers disclose the financial dealings of their clients has been expunged from the Finance Bill. 

Lawyers had opposed the move to include advocates, notaries and other independent legal professionals who are sole practitioners, partners in the definition of designated non-financial businesses or professional.

MPs who are practicing lawyers put a spirited attempt to have an amendment seeking to have them disclose the financial dealings of their clients expunged.

Yesterday, Speaker Justin Muturi in a communication ruled that the clauses in the Finance Bill to do with the contentious Act fail to comply with the standard of disclosure set out by the Constitution.

Clauses defective

“The clauses are therefore procedurally defective and are hereby excluded from the Second Reading. The bill will proceed as if the two clauses were not part of it,” said Muturi (pictured).

He however said that the mover of the bill or any other member is not barred from proposing amendments in the appropriate format in a separate bill for the consideration of the House.

More on News


ADVERTISEMENT

RECOMMENDED STORIES News


ADVERTISEMENT