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{
    "id": 326138,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/326138/?format=api",
    "text_counter": 292,
    "type": "other",
    "speaker_name": "",
    "speaker_title": "",
    "speaker": null,
    "content": "section 2 of Anti-Money Laundering Act, in this Act referred No.9 of 2009 to as “the principal Act” is amended – (a) by deleting the definition of “monetary instruments” and substituting therefor the following new definition- “monetary instruments” means- (a) coins and paper currency designated as legal tender of Kenya or of a foreign country and which is customarily used and accepted as a medium of exchange in Kenya or the country of issue; (b) travellers’ cheques, personal cheques, bank cheques, money orders or securities; (c) any other negotiable instrument which is in bearer form, or other form through which title passes upon delivery; (b) by inserting the words “or benefits” immediately after the words “economic gains” in the definition of “proceeds of crime”. (c) by deleting the definition of “realizable property” and substituting therefor the following new definition- “realizable property” means- (a) property laundered; (b) proceeds from, or instrumentalities used in, or intended to be used in money laundering or predicate offences; (c) property that is the proceeds of, or used, or intended or allocated for use in, the financing of any offence; and (d) property of corresponding value."
}