April 25, Nay Pyi Taw
The coordination meeting concerning the law amending Trust Act (draft) was held in the meeting room of the Ministry of Legal Affairs at 14:00 p.m. this afternoon.
The Union Minister and Attorney General of the Union, Dr. Thida Oo, Justice of the Supreme Court of the Union, U Myo Maung, the Deputy Minister and Deputy Attorney General, Dr. Htein Lin Oo, Director General of the Supreme Court of the Union, Daw Tin Nwe Soe and responsible persons, Director General from the Legislative Draft Vetting Department and responsible persons attended the meeting.
In the meeting, Justice of the Supreme Court of the Union discussed that the Trust Act is among the 52 laws administered by the Supreme Court of the Union and the purpose of amending the Trust Act (draft) is to align with the recommendation 25 of FATF, which focuses on combating money laundering and terrorist financing; the Union Minister and Attorney General of the Union, Dr. Thida Oo, discussed that the Law Amending Trust Act (draft) is required to amend to align with the recommendation 25 of FATF and the current situation, and the sections to be amended were finally discussed.
(MOLA’s News)