Банкеръ Weekly



The Act on Measures against Financing Terrorism should be ready by November 21 at the latest, when the the Summit in Prague begins where Bulgaria's admission in NATO will be discussed. This became known after a joint closed-door meeting of the Commission on Internal Security and the Budget and Finance Commission, held on October 16. But the MPs did not pass any specific provisions of the draft bill, approved on first hearing. The deputies from the two parliamentary commissions decided to move in proposals for the bill till October 18 and discuss them at another joint meeting. The law should intercept attempts to make deals with funds for which there is information that would be used for terrorist operations. The passing of this act is a commitment undertaken by Bulgaria in connection with Resolution No1272 of the UN Security Council. The Act on Measures against Financing Terrorism will stipulate sanctions against organisations, engaged in or financing terrorist activities. All persons, sentenced for instigating or engaged in terrorist acts, will come within the provisions of the law. There will be also a list, published in the Official Gazette, where citizens and organisations, pointed out by the UN Security Council as connected with terrorism, will be included. The list will be periodically supplemented with names of persons for whom there is proof that are engaged in such activities. The list will be published and supplemented on the proposal of the Prosecutor General, the Council of Ministers, or the competent recommendations of other countries. Anyone who finances terrorist acts or is ingaged in such activities will be deprived of the right to dispose of his property. This includes blocking of money, shares and all movable and immovable property. We are yet to discuss how such decisions could be appealed, Vladimir Donchev, Chairman of the Commission on Internal Security, commented. Under the provision, passed at first hearing, appeals could be filed to the Court of Appeal within 45 days after the sanctions are imposed.Anyone who gives money or any other property to persons listed as terrorists shall come within the provision of the law. Any Bulgarian citizen shall be obliged to inform the Interior Minister about a deal or operation, if suspicions arise that it is aimed to finance terrorist activities. If this is not done or a deal is closed with a person from the list of terrorists, the law stipulates fines from BGN5,000 to BGN15,000 for private persons, and from BGN10,000 to BGN100,000 when the violation has been performed by a juristic person.

Facebook logo
Бъдете с нас и във