Push Admin

Senators question Malacañang's 'conditions' to certify anti-money laundering law amendments bill as urgent

Article (news)

ABS-CBN News

<p>MANILA - Senators on Wednesday scoffed at a document from Malacañang that imposed &quot;conditions&quot; before certifying as urgent a bill that would strengthen the Anti-Money Laundering Act (AMLA).</p><p>In the Palace document sent to Senate President Vicente Sotto III&#x27;s office on December 15, President Rodrigo Duterte said that he would certify Senate Bill No. 1945 as urgent only if the chamber would retain the following provisions:</p><ul>	<li>proposed reduction of the threshold for tax crimes to P20 million</li>	<li>retention of the prevailing reporting threshold for real estate transactions</li>	<li>grant of the requested additional investigative powers to the Anti-Money Laundering Council as reflected in House Bill No. 7904</li></ul><p>The certification cannot &quot;qualify as a letter of certification as far as the Senate is concerned because it violates the separation of powers,&quot; Senate President Vicente Sotto III said in plenary.</p><p>&quot;Indeed, there are times when the executive department would whisper their wishes on certain pieces of legislation, but it is never written down in black and white,&quot; he said.</p><p>&quot;This is the first time that it is done,&quot; he said.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/news/10/17/20/duterte-certifies-as-urgent-bills-boosting-anti-money-laundering-law-financial-resiliency-amid-covid-19-crisis">Duterte certifies as urgent bills boosting anti-money laundering law, financial resiliency amid COVID-19 crisis</a></li></ul><p>Senate Committee on Banks, Financial Institutions and Currencies chair Sen. Grace Poe gave a similar opinion, saying the executive branch should not impinge on the legislature&#x27;s power to craft laws.</p><p>&quot;By putting those conditions...It basically tells us to pass that version alone if we really want this bill to be qualified for that certification so in short, nakadikta po dito kung ano dapat ang probisyon na dapat nating ipasa,&quot; she said.</p><p>(In short, they are dictating upon us what provisions should be passed.)</p><p>&quot;I&#x27;m trying to be very diplomatic here, but I will always say this: That I will accept the amendments which I feel our colleagues have decided to be what is fair and what is right, and what will be effective in this law,&quot; she said.</p><p>Because the Senate deemed the certification as invalid, the bill proposing amendments to the AMLA may not be passed on second and third reading within one session day.</p><p>Congress will adjourn on December 19 and is expected to pass the bill on final reading next year.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/10/28/20/senators-oppose-proposal-to-include-real-estate-developers-brokers-under-amlcs-watch">Senators oppose proposal to include real estate developers, brokers under AMLC&#x27;s watch</a></li></ul><div><strong>RELATED VIDEO</strong></div><figure class="op-interactive"><iframe height="315" src="https://www.youtube.com/embed/alfhjpHfMV0?enablejsapi=1" width="560"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div>

<p>MANILA - Senators on Wednesday scoffed at a document from Malacañang that imposed "conditions" before certifying as urgent a bill that would strengthen the Anti-Money Laundering Act (AMLA).<br /> </p>

MANILA - Senators on Wednesday scoffed at a document from Malacañang that imposed "conditions" before certifying as urgent a bill that would strengthen the Anti-Money Laundering Act (AMLA).