Clause 172 - Amendment of section 23 - Finance (No. 2) Bill, 2019

PART VIII AMENDMENTS TO THE PROHIBITION OF BENAMI PROPERTY TRANSACTIONS ACT, 1988 Amendment of section 23 172. In the Prohibition of Benami Property Transactions Act, 1988 (hereafter in this Part referred to as the principal Act), in section 23, the following Explanation shall be inserted and shall be deemed to have been inserted with effect from the 1st day of November, 2016, namely: Explanation . For the removal of doubts, it is hereby clarified that nothing contained in this section shall apply and shall be deemed to have ever applied where a notice under sub-section (1) of section 24 has been issued by the Initiating Officer. .