Senate Okays Anti-Money Laundering Amendments; Senators Vote on 3 Key Issues

Byline: MARIO B. CASAYURAN & BEN R. ROSARIO

The Senate, by a unanimous 20-0 vote, took its time fine-tuning but finally approved at 6:06 p.m. yesterday an administration-certified bill amending Republic Act 9160, the Anti-Money Laundering Act of 2001, in the face of threats of sanctions from the Paris-based Financial Action Task Force (FATF) that the Philippines would be in its watchlist if it failed to approve it on or before its Feb. 12 deadline.

The House of Representatives also approved its version of the bill on second reading after Speaker Jose de Venecia called a caucus of administration congressmen to seek a guarantee of their attendance in last nights session and prevent adjournment for lack of quorum.

Senators crossed party lines in voting on several key issues of Senate Bill 2419 that was approved on third reading an hour following a demand by opposition Sen. Rodolfo G. Biazon for a clean copy of the bill approved on second reading.

The vote of opposition Sen. John H. Osmena, who told his colleagues that he had voted against the AMLC law two years ago, was not recorded as he was absent when it was approved on second and third reading.

After passing the measure, the Senate formed its panel for a bicameral conference committee with Sen. Ramon Magsaysay Jr. as …

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Publication information: Article title: Senate Okays Anti-Money Laundering Amendments; Senators Vote on 3 Key Issues. Contributors: Not available. Newspaper title: Manila Bulletin. Publication date: February 10, 2003. Page number: Not available. © 2009 Manila Bulletin Publishing Corp. COPYRIGHT 2003 Gale Group.

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