The Senate (Upper House of National Assembly) Standing Committee on Finance and Revenue on August 18 approved the Financial Action Task Force (FATF)-related two bills — the Limited Liability Partnership (Amendment) Bill, 2020, and the Companies (Amendment) Bill, 2020, with three alterations during its meeting under the chairmanship of Senator Farooq H Naik, reports Pakistan Today. It was agreed that committee members, Senator Musadiq Malik, Senator Imam-ud-Din and Senator Sherry Rehman will present their proposed amendments in Senate on August 19 when the bill will be tabled in the upper house. The proposed amendments will be related to information of Ultimate Beneficial Ownership. Committee Chairman Farooq Naik said that the FATF related amendments are the need of the hour and in favour of country but the Government should maintain the standards of justice in the proposed laws.