Assembly resolves partial veto of the Domain Extinction Law
29 abril 2021

ECUADOR

On April 23, the plenary of the National Assembly resolved the partial veto, which includes objections for unconstitutionality to the bill for the recovery of assets of illicit origin (known as Extinction of Domain). The Constitutional Court declared partially valid the objections presented by the Executive regarding the legal nature and destination of the assets. The articles on the Special Fund for the Extinction of Ownership and Suppletory, on the other hand, were declared inadmissible. The approved text has been sent to the Official Registry for its enactment.

During the plenary session, the representatives agreed that the forfeiture of ownership should be prescribed after 15 years counted from the date on which the good or goods subject to this sanction were acquired. In turn, the Legislature amended the articles on illicit activity, retrospectivity, imprescriptibility and destination. By means of these changes, the assembly members expect to prevent acts of corruption from going unpunished.

The law proposes that persons who know about the existence of assets that may be subject to the procedure of extinction of ownership must inform the Attorney General’s Office. Failure to comply with this duty on the part of public servants will constitute a first class contravention, as provided in the Code of Criminal Matters.

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