Legislation
Angola: Government Finalizes Amendments to International Sanctions Law
The draft law amending Law No. 1/12 of January 12, on the Designation and Execution of International Legal Acts, was approved by the National Assembly members in its specialized form.
This development is significant for practitioners as it aims to introduce adjustments to the legal regime for the implementation of targeted financial sanctions and other restrictive measures applicable to designated individuals, groups, and entities. The proposed amendments are part of Angola's efforts to strengthen its national system for preventing and combating money laundering, terrorism financing, and proliferation of weapons of mass destruction. As such, attorneys should monitor this development closely, particularly those advising clients on compliance with international sanctions and anti-money laundering regulations.
The relevant statutes involved in this matter include Law No. 1/12 of January 12, which governs the designation and execution of international legal acts, as well as Law No. 4/25 of April 24, which reinforced the compliance and effectiveness of Angola's national system for preventing money laundering and terrorism financing. The proposed amendments also take into account the recommendations of the Financial Action Task Force (FATF), an intergovernmental organization that sets international standards for anti-money laundering and combating the financing of terrorism.
The key parties involved in this matter include the National Assembly, which approved the draft law, as well as the Executive branch, which initiated the proposal. The proposed amendments are also relevant to individuals, groups, and entities under reasonable suspicion of involvement in acts of terrorism and its financing, proliferation of weapons of mass destruction, subversion of peace and security, or non-compliance with United Nations Security Council resolutions and decisions or recommendations of international, regional, and sub-regional organizations to which Angola is bound.