WEDNESDAY, JULY 12, 1989
ON THE "HOWEVER, BECAUSE THE MAJOR IMPACT OF THE LEGISLATION
AND CONSIDERING THE FINANCIAL SECTOR ARISES ONLY FROM CLAUSE 25,
AS DESIRABILITY OF BRINGING THE OTHER PROVISIONS INTO EFFECT AS EARLY
AGREED THAT POSSIBLE, THE AD HOC GROUP AND THE ADMINISTRATION HAVE CLAUSE 25 SHOULD COME INTO EFFECT ON A DATE LATER THAN THE MAIN OF THE LEGISLATION," HE SAID.
PART
WAS
ACT OFFENCES
AMENDMENTS, AND HAD
MR BARNES SAID THE 1986 DRUG TRAFFICKING AMENDED IN 1988 IN THE UNITED KINGDOM, AND SOME OF THESE LARGELY REFINEMENTS, WERE CONSIDERED SUITABLE FOR HONG KONG BEEN INCLUDED IN THE PROPOSED COMMITTEE STAGE AMENDMENTS.
THE BILL WAS PASSED.
SPIRIT OF DRUG TRAFFICKING PROCEEDS BILL ENDORSED
* * *
BILL 1989, THE
HON
MEMBERS OF THE LEGISLATIVE COUNCIL FULLY ENDORSED THE SPIRIT OF THE DRUG TRAFFICKING (RECOVERY OF PROCEEDS) MARTA TAM TOLD THE COUNCIL TODAY (WEDNESDAY).
BY
SHE SAID THE BILL AIMED AT CURBING MONEY LAUNDERING
IDENTIFICATION INTRODUCING NEW INVESTIGATIVE POWERS TO FACILITATE THE
TRAFFICKING, AND BY CREATING OF PROCEEDS DERIVED FROM DRUG
A NEW
OFFENCE OF
THE RETENTION AND CONCEALMENT OF SUCH PROCEEDS.
ASSISTING IN
SPEAKING IN THE RESUMED DEBATE ON THE BILL, MISS TAM SAID
NEW INITIATIVES MEMBERS ALSO WELCOMED THE
AIMED AT ATTACKING THE DERIVED FROM ASSETS OF DRUG TRAFFICKERS AND PREVENTING PROFITS
DRUG TRAFFICKING TO BE SIPHONED OFF TO OTHER, LEGITIMATE LINES OF BUSINESS.
THE
POWERS PROVIDED UNDER HOWEVER, IN VIEW OF THE EXTENSIVE BILL ENABLING THE COURTS TO FREEZE AND CONFISCATE PROCEEDS DERIVED STUDY THE FROM DRUG TRAFFICKING, A LEGCO AD HOC GROUP WAS SET UP TO BILL, SHE SAID.
ALSO A CHINESE TEXT SUB-COMMITTEE WAS
SET UP ΤΟ CHINESE VERSION OF THE BILL, WORKING ALONGSIDE THE GROUP.
STUDY
THE
THE AD HOC GROUP, OF WHICH MISS TAM WAS CONVENER, MET A TOTAL
FIVE TIMES WITH OF 15 TIMES
THE ADMINISTRATION, ONCE WITH THE BANKING SECTOR AND IN NINE INTERNAL DISCUSSIONS, RECOMMENDATIONS WERE MADE TO THE LEGCO IN-HOUSE MEETING.
THE CHINESE TEXT SUB-COMMITTEE, CHAIRED BY THE HON MIRIAM MET 13 TIMES WITH LAW DRAFTSMEN FROM THE LEGAL DEPARTMENT COMPLETING ITS TASK.
BEFORE
LAU,
BEFORE
/AS A