Lords examines Sanctions and Anti-Money Laundering Bill

Money on a clothes line
13 December 2017

The Sanctions and Anti-Money Laundering Bill concluded committee stage, the first chance for line-by-line scrutiny, in the Lords on Tuesday 12 December.

Members discussed subjects including the anti-corruption strategy, counterterrorism sanctions regulations and scrutiny of regulations.  

Report stage, a further chance to examine the bill and make changes, is scheduled to begin on 15 January 2018.

Lords committee stage day three: Wednesday 6 December

Members discussed a range of subjects including money laundering, terrorist financing and how owners of UK businesses and properties are identified when they are registered overseas.

Lords committee stage day two: Wednesday 29  November

Members discussed subjects including designated persons and the foreign policy objectives of the UK government.

Lords committee stage day one: Tuesday 21 November

Members discussed a range of subjects, including the prevention of acts contravening international conflict law and the legitimate travel of persons recognised under the UN Convention Relating to the Status of Refugees.

Lords second reading: Wednesday 1 November

Members discussed the key points raised by the bill, including imposing non-UN sanctions and the process for the making of anti-money laundering regulations.

Sanctions and Anti-Money Laundering Bill

This bill will aim to:

  • create powers for the government to make regulations to impose sanctions
  • allow financial, immigration, trade, aircraft and shipping sanctions to be imposed
  • allow for regulations to create exceptions and licences to allow activities to take place that would otherwise be prohibited or restricted by sanctions 
  • have ministerial and judicial review processes to allow individuals and organisations to challenge sanctions imposed on them
  • allow regulations to be made to update existing provisions on anti-money laundering and terrorist financing, particularly the Money Laundering Regulations 2017, to be updated after the UK’s exit from the EU.

Further Information

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