Bill in LS for prevention of terror financing, fake notes

A bill to provide for effective prevention of terror financing, counterfeiting of Indian currency and to raise the period of banning an unlawful organisation from two to five years, was introduced in the Lok Sabha today.

The Unlawful Activities (Prevention) Amendment Bill, introduced by Minister of State for Home Jitendra Singh, includes provisions to prevent the use of biological, radiological, nuclear material or device for terror or other illegal acts.

It provides for an increase in the period of declaration of an association as unlawful from two to five years, the Statement of Objects and Reasons of the Bill said.

The Bill, which was brought on the basis of international commitments made by India, enlarges the scope of the Act relating to punishment for raising funds for terror acts.

It includes new provisions to "include within its scope, offences by companies, societies or trusts and provide for punishment". The legislation also includes provisions for forfeiture and attachment of properties linked with terrorism or counterfeit currency.

India was recently admitted as the 34th member of the Financial Action Task Force, an Inter-Governmental organisation set up to devise policies to combat money laundering and terror financing. On the basis of India's commitments to the Task Force, various legislative and legally-binding measures were required to be taken by March 31 next year.

In order to give effect to these commitments, the legislation was introduced to make the Unlawful Activities (Prevention) Act of 1967 more effective in preventing terrorist and other unlawful activities.