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Sri Lanka's Prevention of Money Laundering Act Quiz

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Sri Lanka's Prevention of Money Laundering Act Quiz

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Questions and Answers

What is the title of the Act mentioned in the text?

Financial Security Act, No. 5 of 2006

Anti-Corruption Act, No. 5 of 2006

Prevention of Money Laundering Act, No. 5 of 2006 (correct)

Money Laundering Prohibition Act, No. 5 of 2006

When was the Act certified?

6th March, 2006 (correct)

15th March, 2005

10th March, 2006

6th March, 2005

What is the purpose of the Act?

To facilitate international trade agreements

To prohibit money laundering and provide measures to combat it (correct)

To regulate foreign investments

To establish a new taxation system

Where was the Act printed?

Department of Government Printing, Sri Lanka Signup and view all the answers

What is the price of the Act?

Rs. 19.00 Signup and view all the answers

According to the text, what is the full title of the Act?

Prevention of Money Laundering Act, No. 5 of 2006 Signup and view all the answers

What is the purpose of the Act mentioned in the text?

To prohibit money laundering in Sri Lanka; to provide the necessary measures to combat and prevent money laundering; and to provide for matters connected therewith or incidental thereto Signup and view all the answers

What is the specific date when the Act was certified?

6th March, 2006 Signup and view all the answers

Where can the Act be purchased according to the text?

Government Publications Bureau, Colombo 1 Signup and view all the answers

What is the price of the Act as mentioned in the text?

Rs. 19.00 Signup and view all the answers

Study Notes

Introduction to the Prevention of Money Laundering Act

The Act was certified on March 6, 2006
The Act was published as a supplement to Part II of the Gazette of the Democratic Socialist Republic of Sri Lanka on March 10, 2006
The Act was printed at the Department of Government Printing, Sri Lanka

Objective and Scope of the Act

The Act aims to prohibit money laundering in Sri Lanka
The Act provides measures to combat and prevent money laundering
The Act covers matters connected with or incidental to money laundering

Citation and Application of the Act

The Act may be cited as the Prevention of Money Laundering Act, No. 5 of 2006
The provisions of the Act apply to all cases of money laundering in Sri Lanka

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Description

"Prevention of Money Laundering Act, No. 5 of 2006 Quiz" - Test your knowledge of the legislation governing anti-money laundering measures in the Democratic Socialist Republic of Sri Lanka. This quiz covers the key provisions and requirements outlined in the Act, providing a comprehensive understanding of its implications and applications. Ideal for legal professionals, compliance officers, and anyone seeking to enhance their knowledge of financial regulations in Sri Lanka.