The UNCAC will come into effect after parliament ratifies it. "We will immediately forward it to the parliament for ratification," said Law and Justice Minister Prem Bahadur Singh, who is also a member of the cabinet´s bills committee. [break]
Minister Singh said the meeting of cabinet´s bills committee held Monday endorsed the UNCAC with high priority. "We endorsed UNCAC despite other pending bills as this convention had long been gathering dust."
A full cabinet meeting last week authorized the bills committee to finalize the UNCAC.
Some 143 countries have already ratified the UNCAC. After ratification of UNCAC, the member states will enjoy mainly three rights. First, the signatory countries will have the right to extradite those found guilty on charges of corruption. Secondly, such countries will be able to exchange legal assistance to prevent and curb corruption. And thirdly, bilateral disputes on corruption and economic crimes will be settled with the help of an arbitrator.
The convention aims at combating corruption under a global mechanism.
The objective of UNCAC is to promote, facilitate and support international cooperation and technical assistance in the prevention of and fight against corruption.
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