Clause 187A - Amendment of section 3 - Finance (No. 2) Bill, 2019

While Passing the bill in the Loksabha as on 18-7-2019, the following clause was inserted: New Clause 187A Amendment made: Page 53, after line 19, insert- 187A. In section 3 of the principal Act, the following Explanation shall be inserted, namely:-- Explanation . -- For the removal of doubts, it is hereby clarified that,- (i) a person shall be guilty of offence of money-laundering if such person is found to have directly or indirectly attempted to indulge or knowingly assisted or knowingly is a party or is actually involved in one or more of the following processes or activities connected with proceeds of crime, namely:--- (a) concealment; or (b) possession; or (c) acquisition; or (d) use; or (e) projecting as untainted property; or (f) claiming as untainted property, in any manner whatsoever; (ii) the process or activity connected with proceeds of crime is a continuing activity and continues till such time a person is directly or indirectly enjoying the proceeds of crime by its concealment or possession or acquisition or use or projecting it as untainted property or claiming it as untainted property in any manner whatsoever. . (25)