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Canada seeks to freeze assets of allegedly corrupt foreign leaders

03-04-2011 10:03 BJT

OTTAWA, March 3 (Xinhua) -- The Canadian government on Thursday tabled the Freezing Assets of Corrupt Regimes Act in Parliament, aiming to freeze assets that former allegedly repressive foreign leaders may hold in Canada.

If passed, the legislation will allow Canada to act upon the request of a foreign state to freeze the assets that their former leaders and members of their entourage, including family members, senior officials and associates, may have placed in Canadian financial institutions.

It will also give Canada the authority to seize any property such individuals may own in this country.

Foreign Minister Lawrence Cannon told reporters that the act will give Canada more robust tools in the fight against corruption and the misappropriation of state funds by repressive foreign leaders, citing the recent developments in the Middle East and North Africa.

On the same occasion, Justice Minister Rob Nicholson urged all Parliament members to support the bill so that Canada can move to freeze the assets of corrupt and repressive leaders in a timely manner.

Canada has supported a UN Security Council resolution to impose sanctions on Libya and taken extra measures including an asset freeze and a ban on financial transactions with the Government of Libya.

 

Editor:Yang Jie |Source: Xinhua

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