Clause 22 - Amendment of section 8 of Act 15 of 2003 - Finance Bill, 2019

PART II AMENDMENT TO THE PREVENTION OF MONEY-LAUNDERING ACT, 2002 Amendment of section 8 of Act 15 of 2003. 22. In section 8 of the Prevention of Money-laundering Act, 2002, in sub-section (3), with effect from such date as the Central Government may, by notification in the Official Gazette, appoint, (i) in clause (a), for the words ninety days , the words three hundred and sixty-five days shall be substituted; (ii) after clause (b), the following Explanation shall be inserted, namely: Explanation. For the purposes of computing the period of three hundred and sixty-five days under clause (a), the period during which the investigation is stayed by any court under any law for the time being in force shall be excluded. .