Financial Crimes Commission Communique – OBLIGATION TO SUBMIT A DECLARATION OF ASSETS PURSUANT TO THE DECLARATION
OF ASSETS ACT 2018, AS AMENDED, FOLLOWING THE DISSOLUTION OF THE NATIONAL
ASSEMBL
Financial Crimes Commission Communique – The Declaration of Assets Act 2018
The Financial Crimes Commission Act 2023 (“FCC Act”) was proclaimed on 29th March 2024. The FCC Act amends the Declaration of Assets Act 2018 (“DOA Act”).
Obligation to make Declaration of Assets and Liabilities
Following the Village Council General Elections and the first sitting of the District Councils held on 22 November 2020 and 02 December 2020 respectively, all District Councillors, Chairpersons and Vice-Chairpersons are reminded of their obligations under sections 4(1) (a) and 4(2) (a) of the Declaration of Assets Act 2018, as amended, to make a declaration of their assets and liabilities with ICAC, including the assets and liabilities of their spouse and their minor children, not later than 30 days after 02 December 2020, on the prescribed form.
Obligation to make Declaration of Assets and Liabilities
In view of the forthcoming Village Council General Elections to be held on Sunday 22 November 2020 and nomination day fixed for Saturday 31 October 2020, all District Councillors are reminded of their obligations under section 4(1)(c) of the Declaration of Assets Act 2018, as amended, to make a declaration of their assets and liabilities with ICAC, including the assets and liabilities of their spouse and their minor children, not later than 30 days as from 30 October 2020, on the prescribed form.
The Declaration of Assets (Extension of Time During COVID-19 Period) Regulations 2020, came into operation on 25 July 2020
Update on Deadline for Filing of Declaration of Assets Forms
Please be advised that the deadline for filing of Declaration of Assets Forms has been updated in accordance with the Circular dated 05 November 2019 issued by the Prime Minister’s Office as attached.
The Declaration of Assets (Amendment) Act 2019
The Declaration of Assets (Amendment) Act 2019, gazetted on 06 July 2019, came into force, upon proclamation, on 22 August 2019. The Amendment Act, inter alia:
(i) provides for a wider definition of “assets”;
(ii) excludes judicial officers from making any declaration;
(iii) defines and makes provision for a prescribed list for “State-owned Enterprises”;
(iv) provides new delay for the declaration of assets and liabilities; and
(v) revokes the Declaration of Assets (Prescribed Forms) Regulations 2019.