The Hon. Arun Hemachandra

¶ 01 Please allow me to continue. You had plenty of time to speak.

¶ 02 There is no retrospective application. Where earlier crimes produced property, we can freeze and recover it. Fundamental rights are not infringed. As for international cooperation, this Section is vital. Many countries have done this—Philippines, Nigeria, Australia, the UK. The UK’s Proceeds of Crime Act 2002 allows both conviction- and non-conviction-based asset recovery. Over £339 million was recovered in 2022 alone, using tools like Unexplained Wealth Orders. In Australia, forfeited criminal assets are reinvested into community development. In South Africa, the Asset Forfeiture Unit recovered over USD 36 million in the Gupta case. The Philippines recovered USD 624 million from Swiss accounts of Ferdinand Marcos. Nigeria recovered over USD 500 million of Abacha’s loot with international assistance. There are many such success stories.

¶ 03 In the past, many people suddenly acquired property but could not show how. Our legal framework lacked proper mechanisms to recover such property. This Bill is therefore vital.

¶ 04 As young MPs who did grassroots politics, we heard many stories about Ministers’ properties. In my own village, a former Provincial Councillor is known to have properties, big vehicles, and houses—but no proof of lawful acquisition, everyone knowing she profited through a “benefactor.” There were no proper laws to investigate then. This is just one example; there are many across districts, local bodies, and electorates. We believe we can now properly investigate and require proof of lawful acquisition. If not, problems will arise—be they politicians, officials, or businessmen. Those with lawfully acquired property have nothing to fear.

¶ 05 This is a historic moment. With this Bill’s passage, we expect a healthier political culture. Thank you.