ACC releases 'Model Law on Asset Recovery'

The Anti-Corruption Commission (ACC) has released a book entitled 'Asset Recovery Namoonaa Gaanoonu' (Model Law on Asset Recovery).

At a ceremony held for the occasion, the book was released by Maafushi MP Hussain Riza Adam.

The book is aimed at recovering state assets and the comprehensive utilization of such recovered state assets, ACC added.

The first draft on the model law was worked out in collaboration with Maldives Transparency through an agreement with the organization.

The key objectives of this model law include:

• Creating a legal framework on recovering state assets
• Restriction of state assets from being exploited and misappropriated by individuals
• Restriction of the financial system barring exploitative and criminal conduct
• Creating a legal framework on recovering state assets in overseas destinations
• Protection of rights of the individuals involved in state assets

The model law is aimed at curtailing corrupt conduct and illicit profiteering, ACC added.