Rule 4 - Management of confiscated property. - Prevention of Money-Laundering (Receipt And Management of Confiscated Properties) Rules, 2005

Management of confiscated property. 4. (1) Where the property confiscated is of such a nature that its removal from the place of attachment is impracticable or its removal involves expenditure out of proportion to the value of the property, the Administrator shall arrange for the proper maintenance and custody of the property at the place of attachment. (2) If the property confiscated consists of cash, Government or other securities, bullion, jewellery or other valuables, the Administrator shall cause to deposit them for safe custody in the nearest Government Treasury or a branch of the Reserve Bank of India or State Bank of India or its subsidiaries or of any authorized bank. (3) The Administrator shall maintain a register containing the details in Form I for recording entries in respect of movable property, such as cash, Government or other securities, bullion, jewellery or other valuables. (4) The Administrator shall obtain a receipt from the Treasury or the bank, as the case may be, against the deposit of movable properties stated in sub-rule (3) of this rule. (5) The Administrator shall maintain a register containing the details in Form II for recording entries in respect of property other than the properties referred to in sub-rule (3) of this rule.