The Law on Seizure of Illegally Obtained Property has come into effect in the Federation of BiH, which will start being implemented after semi-annual preparation period, the Federation Ministry of Justice announced.
It is stated in the press release it is the most important anti-corruption law, which the Government of FBiH worked on for the last three years until it was adopted in May this year.
For the first time in the Federation of BiH, this law creates legal, institutional and organizational assumptions for seizure of any form of property that was obtained illegally.
”According to this Law, any form of illegally obtained property will be seized, whether it is mobile of immobile property, receivables or business shares, securities, money, art, precious stones which is owned or managed by the perpetrator of the criminal offence or that is linked to the person”, says the press release.
The Law also stipulates seizure of illegally obtained property not only from those who committed a crime but also those who are related to the crime.
According to the Law, the court is the only body competent to seize the property, whether temporary or permanently.
The Federation Ministry of Justice reminds the public that adoption of this law fulfills one of the very important conditions on the European path of our country, because this was emphasized as great disadvantage in earlier reports of the European Commission on progress of BiH and meeting EU standards in field of rule of law.
(Source: Fena)
