Section 21(pb) of the ANti-Money Laundering Act, 2013 (as amended) provides for the registration of all Accountable Persons as one of the general powers of the FIA.
Under the Anti-Money Laundering Act 2013 second schedule, all dealers in precious stones and metals are required to register with FIA as accountable persons.
The Mining and Minerals act 2022, and its regulations also make it a requirement for goldsmiths to register with FIA as a pre-condition for obtaining a license.
In order to comply with the international requirements, specifically the FATF recommendations 7, 24 and 25, the Parliament of Uganda on 30th August, 2022 passed key legislations to address existing gaps in the law on beneficial ownership information and proliferation financing.
The Bills passed include the following: