Republic Acts1 min read
Section 18September 29, 2001, Sec./Art. 18
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Implementing Rules and Regulations. Within thirty (30) days from the effectivity of this Act, the Bangko Sentral ng Pilipinas, the Insurance Commission and the Securities and Exchange Commission shall promulgate the rules and regulations to implement effectivity the provisions of this Act. Said rules and regulations shall be submitted to the Congressional Oversight Committee for approval.
Covered institutions shall formulate their respective money laundering prevention programs in accordance with this Act including, but not limited to, information dissemination on money laundering activities and its prevention, detection and reporting, and the training of responsible officers and personnel of covered institutions.
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