The House of People’s Representatives has approved a new Property Restitution Law, designed to close legal loopholes in the recovery of government and public assets.
During its 14th regular session held today, the House reviewed the draft law and considered the report and recommendations presented by the Standing Committee on Legal and Justice Affairs. Following deliberations, the bill was passed with an overwhelming majority.
The newly approved law establishes mechanisms for returning unlawfully acquired property, ensuring accountability, and closing legal gaps that have previously hindered restitution efforts.
Legal Adjustments and Committee Insights
According to the Standing Committee’s Secretary, Ezegnet Mengistu, the committee presented a report detailing modifications and additional provisions incorporated into the final draft before its submission for approval.
The committee emphasized that its review process involved extensive stakeholder consultations, including public discussions and expert forums, to gather comprehensive input before finalizing the bill.
The Property Restitution Law is designed to eliminate legal gaps in reclaiming misappropriated government and public assets.
Key Provisions and Expected Impact
Members of Parliament highlighted that the law will:
Deter individuals from illegally acquiring public and private property.
Hold accountable those who unlawfully benefit from stolen assets.
Support national development by ensuring that public wealth is protected and utilized appropriately.
However, some lawmakers raised concerns about the law’s enforcement. They stressed the importance of:
Ensuring the implementation mechanisms are robust to prevent loopholes.
Strengthening enforcement agencies responsible for asset recovery.
Protecting citizens’ property rights to avoid unintended consequences.
Addressing Constitutional Rights and Anti-Corruption Efforts
Secretary Ezegnet clarified that the bill does not infringe on constitutional property rights, including inheritance and asset accumulation through legal means.
The law is intended to reinforce anti-corruption efforts, enabling the recovery of illegally obtained national assets and preventing financial crimes.
After an extensive debate on the bill’s significance and relevance, the House of Representatives passed the Property Restitution Law with a majority vote, with only three objections and four abstentions.
This new legislation marks a significant step in strengthening accountability and governance, ensuring that unlawfully acquired assets are returned to their rightful owners while promoting national economic growth.
