According to the agreement reached with the International Monetary Fund to obtain the extended credit facility, the government of Sri Lanka has to take steps to introduce a perfect law regarding the recovery of assets by the year 2024.
Accordingly, the related Cabinet decision states that a committee consisting of experts in the field of justice has been appointed in March 2023 to prepare a necessary policy legal framework and procedure regarding the law on property obtained from crime.
It is reported that the cabinet has given its approval to the proposal submitted to advise a law enforcement body to prepare the bill on property obtained from crime based on the recommendations given in the report submitted by this committee.
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