Clause 152 - Amendment of Act 45 of 1988. - Finance Bill, 2023

PART V AMENDMENTS TO THE PROHIBITION OF BENAMI PROPERTY TRANSACTIONS ACT, 1988 Amendment of Act 45 of 1988 . 152. In the Prohibition of Benami Property Transactions Act, 1988, with effect from the 1st day of April, 2023, (a) in section 2, in clause (18), (I) in sub-clause (i), the word and occurring at the end shall be omitted; (II) in sub-clause (ii), the word and shall be inserted at the end; (III) after clause (ii), the following clause shall be inserted, namely: (iii) the High Court within the jurisdiction of which the office of the Initiating Officer is located, (a) where the aggrieved party does not ordinarily reside or carry on business or personally work for gain in the jurisdiction of any High Court; (b) where the Government is the aggrieved party and any of the respondents do not ordinarily reside or carry on business or personally work for gain in the jurisdiction of any High Court; ; (b) in section 46, (i) in sub-section (1), for the words of the order , the words on which such order is received by the Initiating Officer or received by such person, shall be substituted; (ii) in sub-section (1A), for the words of that order , the words on which such order is received by such person shall be substituted.