UAE Anti-Money Laundering Law

Article 22 — Article (22)

Chapter Nine: International Cooperation and Asset Recovery

1. The Cabinet shall, based upon a proposal from the Minister and after coordination with the Concerned Authorities, issue a resolution regarding the determination and regulation of the procedures for the recovery and management of assets that are Seized, Frozen, or subject to Confiscation, provided that such resolution specifies the entities responsible for Asset Recovery and management and the circumstances of their disposal. 2. Subject to the procedures of sharing Criminal Property or Funds equivalent in value thereto, the proceeds of their sale, upon the issuance of a final judgment of Confiscation, shall remain charged, within their value, with any rights lawfully vested in any bona fide party. 3. The Concerned Authorities shall cooperate, coordinate, and exchange information among themselves in order to enhance the effectiveness of Asset Recovery.

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