New Delhi, April 6: A bill which seeks to ban funding of weapons of mass destruction and also empower the Centre to freeze, seize or attach financial assets and economic resources of people engaged in such activities was passed by Lok Sabha on Wednesday.
Responding to a discussion on the Weapons of Mass Destruction and their Delivery Systems (Prohibition of Unlawful Activities) Amendment Bill, External Affairs Minister S Jaishankar said the passage of the amendment will strengthen India’s national security and its global position.
The House passed the bill by a voice vote with members expressing unanimity that such a measure was the need of the hour.
The Weapons of Mass Destruction and their Delivery Systems (Prohibition of Unlawful Activities) Act, passed in 2005, only banned manufacture of weapons of mass destruction.
While moving the bill for passage and consideration, Jaishankar said the bill brought keeping in mind the national interest and global interest, and to strengthen India’s credentials and image. “In recent times, regulations relating to proliferation of weapons of mass destruction and their delivery systems by international organisations have expanded,” Jaishankar said in the statements of objects and reasons of the bill.
He noted that the United Nations Security Council’s targeted financial sanctions and the recommendations of the Financial Action Task Force have mandated against financing of proliferation of weapons of mass destruction and their delivery systems. “We are upgrading a law which is 17 years old, which like other legislations need updating…FATF needs very specific reference to financing…the bill is meant to be amendment to shortcoming, something which is missing in a current law, it is not meant to be a new law,” he explained.
He said till now, the government was issuing notifications under the UNSC Act, 1947 which related to financial measures. The notifications were implemented by the Reserve Bank of India and other “involved government bodies”. “They would advice the banks, they would do the monitoring following order which the MEA would regularly bring out. Our effort today is to give legislative backing so that this is not one-by-one ad hoc measure but there is a legal way of dealing with what is a continuous problem,” he said.
He said the FATF evaluated whether countries are responsible in terms of their financial policy. “We have seen countries who have done things, followed policies and actions which are not right brought to account. And there are very significant consequences of that. I think most members are familiar with the countries involved — some of them are very close to us,” he said apparently referring to Pakistan. (PTI)
