Act 2018 status not recorded
Declaration of Assets Act 2018
Issued by Financial Crimes Commission
Plain-English summary
Act 23 of 2018 (Gazette 119 of 20 December 2018), amended in 2019, 2022, 2023 and 2024. Requires members of the legislature, councillors, senior public officers and heads of state bodies to declare assets to the Financial Crimes Commission, within 30 days of taking office and every five years for senior public officers; late filing carries a penalty of Rs 5,000 per month, capped at Rs 50,000.
Who it applies to
All industries
Topics
Anti-Bribery & Corruption
Obligations arising from this law or regulation
| Obligation | Timing | Regulator | Source | Detail |
|---|---|---|---|---|
| Declaration of assets by public officials | Deadline Within 30 days of taking office; every 5 years for certain officers | FCC | official | |
Elected representatives and officers listed in section 3 must declare assets to the Financial Crimes Commission within 30 days of election or appointment (s. 4). Fresh declarations are due within 30 days of acquiring or disposing of specified assets, and certain officers must redeclare every five years (s. 6). Late filing costs Rs 5,000 a month up to Rs 50,000 (s. 10); a wilful false declaration carries up to Rs 1 million and 5 years' imprisonment (s. 11). |
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| No obligations match these filters. | ||||
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