Section 2: Definitions

Plain-Language Summary

A general explanation to aid understanding. The official statutory text appears below.

This section defines the following terms used in The National Anti-Money Laundering and Counter Financing of Terrorism Authority Act, 2023: • Authority — the National Anti-Money Laundering and Counter Financing of Terrorism Authority of Pakistan established under Section 3 • Competent authorities — the term as defined in the Anti-Money Laundering Act, 2010; the National Counter Terrorism Authority, Provincial Home Departments, Federal Board of Revenue, Ministry of Interior, Ministry of Foreign Affairs and such other authorities, departments, organizations or agencies as may be notified by the Federal Government from time to time • Director General — the Director General of the Authority appointed pursuant to Section 9 • Division concerned — the Cabinet Division • Rules — rules made under the Act • Regulations — regulations made under this Act; and • Prescribed — prescribed by rules or regulations This is the official statutory text, shown as written — it is not a paraphrase or a legal opinion. Consult a verified lawyer to see how it applies to your specific situation.

2. Definitions.—In this Act, unless there is anything repugnant in the subject or context,— (a) “Authority” means the National Anti-Money Laundering and Counter Financing of Terrorism Authority of Pakistan established under Section 3; (b) “Competent authorities” means the term as defined in the Anti-Money Laundering Act, 2010; the National Counter Terrorism Authority, Provincial Home Departments, Federal Board of Revenue, Ministry of Interior, Ministry of Foreign Affairs and such other authorities, departments, organizations or agencies as may be notified by the Federal Government from time to time; (c) “Director General” means the Director General of the Authority appointed pursuant to Section 9; (d) “Division concerned” means the Cabinet Division; (e) “Rules” means rules made under the Act; (f) “Regulations” means regulations made under this Act; and (g) “Prescribed” means prescribed by rules or regulations.

Effective date: 2023-08-07

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