Clause 229 - Amendment of Act 15 of 2003- Appellate Tribunal - Finance Bill, 2016

PART IX A MENDMENT TO THE P REVENTION OF M ONEY-LAUNDERING A CT, 2002 Amendment of Act 15 of 2003 229. In the Prevention of Money-laundering Act, 2002 with effect from the 1st day of June, 2016, (a) in section 2, in sub-section (1), in clause (b), for the words established under , the words referred to in shall be substituted; (b) for section 25, the following section shall be substituted, namely: Appellate Tribunal 25. The Appellate Tribunal constituted under sub-section (1) of section 12 of the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976 (13 of 1976) shall be the Appellate Tribunal for hearing appeals against the orders of the Adjudicating Authority and the other authorities under this Act. ; (c) sections 27, 28, 30, 31, 32, 33 and 34 shall be omitted; (d) in sections 36, 37, 38 and 40, for the word Chairperson wherever it occurs, the word Chairman shall be substituted; (e) in section 73, in sub-section (2), clauses (s) and (t) shall be omitted.