Section 22: Repeals, Savings and Validity of Actions, etc

22. Repeals, Savings and Validity of Actions, etc.—(1) On the commencement of this Act— (a) the Prime Minister’s Office Order No 3021/M/SPM/2019 dated 2nd August, 2019 constituting the National Financial Action Task Force Coordination Committee shall stand rescinded; and (b) Notification No. 4-1/2019-Min-I dated 30-12-2019 of the Federal Government setting up the National Financial Action Task Force Cell shall stand rescinded. (2) All rights, powers, authorities and privileges, of whatever kind of the National Financial Action Task Force Coordination Committee and the National Financial Action Task Force Cell subsisting immediately before their dissolution shall stand transferred to and vest in the Authority established under this Act. (3) Anything done, actions taken, orders passed, instruments made, notifications issued, agreements made, proceedings initiated, processes or communication issued, powers conferred, assumed or exercised, by the National Financial Action Task Force Coordination Committee and or the National Financial Action Task Force Cell, as the case may be, or their officers on or after the dates of the respective notifications referred to in paragraph (a) and (b) of sub-Section (1) of this Section and before commencement of this Act, shall be deemed to have been validly done, made, issued, taken, initiated, conferred, assumed, and exercised and provisions of the Act shall have, and shall be deemed always to have had, effect accordingly. (4) At the time of commencement of this Act, all officers and staff depu ted to the National Financial Action Task Force Cell shall continue working under the Authority until the Federal Government shall make appropriate order with respect to retention, posting or repartriation of such officers and staff. (5) Notwithstanding anything contrary contained in any other law for the time being in force, upon commencement of this Act, reference to the Director General FATF Cell appearing in any existing law shall be deemed to be the Director General of the Authority under this Act.

Effective date: 2023-08-07

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