Angola’s parliament approves proposed law on coercive repatriation of assets

14 November 2018

The draft law on forced repatriation and extended loss of assets, which establishes the procedures for the loss of assets to the state, was generally approved on Tuesday by the Angolan parliament, the local press reported.

The draft bill was approved with 124 votes in favour, none against and 50 abstentions, during the first extraordinary plenary session of the 2nd legislative session of the National Assembly, guided by the parliamentary president, Fernando da Piedade Dias dos Santos.

The bill, which was urgently submitted to the parliament, aims to establish a framework that allows the Angolan State, after a period established for voluntary repatriation, to coercively repatriate financial resources domiciled abroad.

The document, presented by the Minister of Justice and Human Rights, Francisco Queiroz, also stipulates the loss in favour of the State of immovable, movable and financial assets that are found abroad and within Angola, acquired with money illegally taken from Angolan State.

The minister, quoted by Angolan news agency Angop, said that the bill is the result of the need to provide investigative bodies with tools to deal with cases in which state assets have been harmed.

Queiroz said that the law applies to assets located inside and outside the country, resulting from illicit activity in which the State has been harmed and goods of any nature whatsoever whether movable, immovable or financial, even if those assets have been transferred free of charge or with a third party derisory value.

The Proposed Law on Coercive Repatriation and Extended Loss of Goods will now be discussed in parliament in detail, with the overall final vote scheduled for the end of the month. (macauhub)