Amended Article 2 Of The Act Against The Laundering Of Money And Of Assets

Original Language Title: Refórmase el Art. 2 de la LEY CONTRA EL LAVADO DE DINERO Y DE ACTIVOS

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LEGISLATIVE ASSEMBLY-REPUBLIC OF EL SALVADOR ____________________________________________________________________

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DECREE NO 774

THE LEGISLATIVE ASSEMBLY OF THE REPUBLIC OF EL SALVADOR,

CONSIDERING:

I.-That, the first paragraph of Art. 6 of the Constitution, states that every person can freely express and disseminate his thoughts whenever he does not subvert public order, nor injure morality, honor, or life. private of the others. The exercise of this right will not be subject to prior examination, censorship or caution; but those who make use of it, infringe the laws, will respond to the crime they commit.

II.-That, by Legislative Decree No. 498, dated 02 December 1998, published in Official Journal No. 240, Volume N ° 341, of the 23rd of the same month and year, the law was issued against the LAUNDERING OF MONEY AND ASSETS; the one that aims to prevent, detect, punish and eradicate the Crime of Money Laundering and of Assets, and related offences, as well as their cover-up, which is applicable to any natural person or

in the case of the Court of Law No 749, which was published in the Official Journal No 143 of 07 August 2014, it

published in the Official Journal of the European Communities on 7 August 2014. reformed Art. 2 of the Law Against the Laundering of Money and Assets, in the sense of incorporating as "Obligated Subjects" by that Law to the Companies of Advertising and Media of any modality; understanding for the effects of referred to as subjects who will have to, among other things, report the Suspicious financial operations or operations that exceed the threshold of the Law, appoint and train a Compliance Officer, and other responsibilities that the Law, its Regulations, as well as the Instructive of the Financial Research Unit The Office of the Prosecutor General of the Republic-UIF/FGR-will determine them.

IV.-That, in order to guarantee a true and effective Constitutional Guarantee to the Principle of Free Expression and to Non-Censorship or Caution, it becomes necessary to issue relevant legal reforms.

BY TANTO,

in use of its Constitutional powers Guillermo Antonio Gallegos Navarrete, Ernesto Antonio Angulo Milla, Manuel Orlando Cabrera Candray, Roberto Jose d' Aubuisson Munguía, Carmen Elena Calderón Sol de Escalón, Mario Marroquín Mejia, Enrique Alberto Luis Valdés Soto, Silvia Alejandrina Castro Figueroa, Marta Evelyn Batres Araujo, Lucia del Carmen Ayala de Leon, Julio Cesar Fabian Perez, Margarita Escobar, Carmen Elena Figueroa Rodriguez, Rene Gustavo Escalante Zelaya, Manuel Vicente Menjivar Esquivel, Patricia Maria Salazar de Rosales, David Ernesto Reyes Molina, Alberto Armando Romero Rodriguez, Mario Eduardo Valiente Ortiz, Edwin Victor Alejandro Zamora David, Edilberto Hernandez Castillo, Manuel Mercedes Portillo Dominguez, Norma Carolina Ramirez, Felix Agreda Chachagua, Ricardo

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ASSEMBLY-REPUBLIC OF EL SALVADOR ____________________________________________________________________

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Humberto Contreras Henriquez, Sergio Benigno Portillo Portillo, Marcos Francisco Salazar Umana, Ana Marina Castro Orellana and Santiago Arnoldo Perla Flores.

DECRETA:

REFORM OF THE LAW AGAINST MONEY LAUNDERING AND MONEY LAUNDERING.

Art. 1.-Reform numerals (19), (20) and (21) of the third subparagraph of Art. 2; in the sense that the current number (20), becomes numeral (19) and the current numeral (21), becomes numeral (20), as follows:

" 19) Associations, Consorcios and Gremios Business; and,

20) Any other Private or Mixed Economy Institution, and Mercantile Companies. "

Art. 2.-This Decree will enter into force eight days after its publication in the Official Journal.

GIVEN IN THE BLUE HALL OF THE LEGISLATIVE PALACE: San Salvador, at the fourteen days of August of the year two thousand fourteen.

OTHON SIGFRIDO REYES MORALES, PRESIDENT.

ENRIQUE ALBERTO LUIS VALDEZ SOTO, GUILLERMO ANTONIO GALLEGOS NAVARRETE, FIRST VICE PRESIDENT. SECOND VICE-PRESIDENT.

JOSÉ FRANCISCO MERINO LÓPEZ, LORENA GUADALUPE PEÑA MENDOZA, THIRD VICE PRESIDENT. FOURTH VICE-PRESIDENT.

CARLOS ARMANDO REYES RAMOS, FIFTH VICE PRESIDENT.

GUILLERMO FRANCISCO MATA BENNETT, MANUEL VICENTE MENJÍVAR ESQUIVEL, FIRST SECRETARY. SECOND SECRETARY.

SANDRA MARLENE SALGADO GARCÍA, JOSÉ RAFAEL MACHUCA ZELAYA, THIRD SECRETARY. FOURTH SECRETARY.

IRMA LOURDES PALACIOS VÁSQUEZ, ERNESTO ANTONIO ANGULO MILLA, FIFTH SECRETARY. SIXTH SECRETARY.

FRANCISCO JOSE ZABLAH SAFIE, JOSE SERAFIN ORANTES RODRIGUEZ, SEVENTH SECRETARY. EIGHTH SECRETARY.

PRESIDENTIAL HOUSE: San Salvador, at twenty-eight days of August of the year two thousand fourteen.

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LEGISLATIVE ASSEMBLY-REPUBLIC OF EL SALVADOR ____________________________________________________________________

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PUBESQUIESE,

Salvador Sánchez Cerén, President of the Republic.

Benito Antonio Lara Fernandez, Minister of Justice and Public Security.

D. O. No. 161 Took No 404 Date: September 2, 2014.

JCH/pch 24-09-2014

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