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  • RA-10927 AMLA Casinos As Covered

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    amla

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    © All Rights Reserved
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    71 views3 pages

    RA-10927 AMLA Casinos As Covered

    Uploaded by

    nikkibeverly73
    amla

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
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    FROM : Fem NO. 49 Jul. 2017 12:03AM PL S.No 168 HL Me, S663 Republic of the Philippines Cungress uf the Philippines Botee Mssile Sevnuleenil; Congress First Regular, Session Begun and held in Metre Manila, on Monday, the twenty-fifth day of July, two thousand sixteon. [Rervauic AcrNo. 10927] AN ACT DESIGNATING CASINOS AS COVERBD PRRSONS UNDER REPUBLIC ACT NO. 9160, OTHERWISH KNOWN AS TH “ANTI-MONEY LAUNDERING ACT OF 2007", AS AMENDED Be it enasted by the Senate und House of Representatives of the Philippines ine Congress assembled: SUCTION 1. Section (a) cf Republic Act No. 9160, a5 amended, is hereby further amended to ud xe follows: “ay Covornd perwons’, natural or jraadisl, fer *(8) casings, including internet and sip-basedd casinos, with’ respect to their casino cash fransactions related tu heir gaming operations, ai? 12te3AN F2 19 Jul, AM NO. FROM : SBC. % Section 8(¢) of Republic Act No. 9160 is hereby further amended ta read sé follows: ish “W) Covered tranzaction in a transaction in cach of other equivalent: monetary instrument ooh eae Sal gmunt an excean of Five hundred Thousand pose (P500,000.00) within one (2) banking digs far Seered persone under Section S(aV8), a deggie casino cach transaction involving am amount Ee eitces of Five miléon pesos (P5.000.006 00) or its Shawalent am any other currency.” SBC. 9. Scetion 3 of Republic Act No. 9160, az amended, eby firther amended by inzertang a new paragraph () ad ag follows: °G) For purposes of covered persons, under Section 4(a\). the following terms are hereby defined as follows: “(l) “Casino! refers to @ business authonzed by the appropriate government agency ta engage 1n ‘gaming operations: 8) mere boed cam ale caine in winch pesvons parsicipate by the Use of remo Shaaingcntjon feckitiee such £3, hut not lamited to, {mlepnel telephone, television, vadio or any other BREF tcctrone ov otber wehnology for facilitating ‘Somusieaton! ad ~Gi) ‘Ship-based essino’ shall refer to casinos, the operation of which 12 undertaken on boerd 2 Seseel chip, beat o any ther water-bazed craft ‘oholly or partly intended fer gambling: *@‘Cosino cash transaction’ refers so tramaastons mvsting the Secipe of cash by @ casino Sau Gy or on behalf of @ customer or transeetions Trobang the pay of cash bp 9 easing wo a customer to ay petoon in hsiher behalf and (8) “Garning operations’ refer to the activisies of the tasine offering games of chance and any Qanations thereof approved by the appropesate yovermment authori ‘SRC. 4 Section 10 of Republic Act Ne. 9160, s= amended, ie hereby further amended to read as follows: “SHC. 10, Freesing of Monetary instrument oF Property — Upon ere expat peony the MLC and afer determination that probable cause existe that any moneiary instrument or property 32 in any way related to an unlawful activity a: defined sn Seetion 3() hevedt the Cour of Appeals may iseue f freeze order which shall be effective immediately foe a period of twenty (20) days. Within the twenty Gordy: period, the Court of Appeals shall conduct & suminaty hearing. with notice to ihe parties, 1o Setermine whether or not ta modify oF lift the ‘eeeze fonder or extend ies ellectivite. ‘The cotal period of the Gree order ieoved by tbe Cowt of Appeals under this provision shall not exceed six (6) monebs. The Ie wlthoue prejudice to an asset preservation order that the Regional Tria! Gout having yarisdichon over the appropriate anticmoney laundering case or vil forfeiture ease may serve on the same account dependine Spon che circumstances of the ease. where the Coust of Appeals will remand the case aad ite records: Provided, ‘That if there 48 po case ‘led Egamet a person waose account has been frozen within the period, determined by the Court of ‘ppeale, not exeeeting atx (6) mouths, the freeze ‘Older shall be deemed ipso jacte lifted: Proved, further, That shis new rule shail_pot apyly to fending, canes in the courts, In aay case, the court Ehowld act on the petition to freeze within twenty-four (24) houre irom fling of the petuoa, If the applicstion is filed a day bafore a nonworking ay, the computaton of the twenty-four (21-hour pened shall excde the nonworking dave “The froene order or assct prenervotion ender issued under this Act shall be limited only to the amount of cash or monetary instrument or value of property that the court finds there is probable cause to be considered as proceeds of a predicate offense, and the freeze order br asset preservation order shail ol apply so amounts ip che same abcount 22 extess Of the amount or value oF the proceeds of the predicate offense PS et? 12:03" 19 Jul. FAX NO. FROM SEC. 5, Section 18 of Republe Act No. 9160 1s here amended by inserting a new paragraph to read as follows: “SRC. 18. Implementing Rules ond Regulations. ~ Withia ninety (@0} days from the effectivity o ‘Act, the AMLC, the Phibppine Amusement and Gaming Corporesion PAGCOR) and other governinent Fegulatory agencies. sball jointly Bromulgste the rales aad regulacione to implement Fhe provisions of this Aet ze appbeable to casinos as covered institutions, Tae implementing zule fable to other covered institutions stsHl not oly to casinos unless 1 is expressly so provided ABder the sles and regulations to implement the provisions of this Act.” SEC. 6 Separability Clouse. ~ If any provision of this Act is declared nnconstittional, the same shall no: affect the Validity and effectivity of other provisions hereoi. SEC. 7. Repeating Clause, ~ All laws, decrees, orders, and isewances Gr portions thereo!. which sre inconsistent with the provisions of this Acs, are hereby repealed, ameniled or modfied accordingly SEC. & Bifectinity. — Thie Act shall take effect fifteen (18) devs following its publication in the Official Gazette or in any newspaper of general sirculation. en wey : ) feet Sod: ARIAS PANTALEON D. ALWAREZ AQUILING “KOKO” PIMENTEL IIL serofi Pout he Smt Senate Bill Ne. 1468, which wae approved by the Senate ‘on May 30, 2017, was adopved az an amendment to House No. 5683 by the House of Representatives on sig

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