Clause 171 - Amendment of section 2 - Finance Bill, 2015

PART VII AMENDMENTS TO THE PREVENTION OF MONEY-LAUNDERING ACT, 2002 Amendment of section 2 171. In the Prevention of Money-laundering Act, 2002 (15 of 2003)(herein referred to as the Money-laundering Act), in section 2, in sub-section (1),- (i) in clause (u), after the words or the value of any such property , the words or where such property is taken or held outside the country, then the property equivalent in value held within the country shall be inserted; (ii) in clause (y), in sub-clause (ii), for the words thirty lakh rupees , the words one crore rupees shall be substituted.