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TMI BlogPrevention of Money-laundering (Taking Possession of Attached or Frozen Properties Confirmed by the Adjudicating Authority) Rules, 2013.X X X X Extracts X X X X X X X X Extracts X X X X ..... Authority" means an Adjudicating Authority appointed under sub-section (1) of section 6 of the Act; (c) "attachment" means prohibition of transfer, conversion, disposition or movement of property by an order issued under sub-section (1) of section 5 of the Act; (d) "Authorized Officer" means an officer authorized by the Director under sub-section (1) of section 5 of the Act; (e) "Form" means the Forms appended to these rules; (f) "frozen" means a record or property frozen under sub-section (1A) of section 17 of the Act; (g) "order" means an order made by the Adjudicating Authority under sub-section (3) of section 8 of the Act; and (h) "section" means a section of the Act. (2) All other words and expressions used and not defined in these rules, but defined in the Act, shall have the meaning respectively assigned to them in the Act. Procedure relating to possession 3. Where the provisional order of attachment made under sub-section (1) of section 5 of the Act or order for retention of property or records seized or frozen under section 17 or section 18 has been confirmed by the Adjudicating Authority under sub- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... djudicating Authority is in the form of shares, debentures, units of mutual fund or instruments, the authorised officer shall cause to get such shares, debentures, units of Mutual Fund or instruments to be transferred in favour of the Director of Enforcement. (5) Where the property confirmed by the Adjudicating Authority is in the form of money lying in a bank or a financial institution, the Authorized Officer shall issue a direction to the bank or financial institution, as the case may be, to transfer and credit the money to the account of the Directorate of Enforcement. Manner of taking possession of immovable property 5. (1) Where the immovable property confirmed by the Adjudicating Authority is in the form of a land, building, house, flat, etc., a notice shall be issued to the Registrar having jurisdiction of the area alongwith the provisional attachment order and order of the Adjudicating Authority confirming such attachment requiring the Registrar not to transfer or create any interest in such property until further orders and a copy of the order confirming the attachment shall be affixed at a conspicuous part of the property. (2) Where the immovable property confirmed by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ned parties for taking possession of immovable property in Form I, appended to these rules and affix the same at conspicuous part of such property and shall also be served by publication in a local newspaper. (2) The authorized officer, for taking possession of property which is in the nature of productive asset, shall serve a notice on all concerned parties in Form II, appended to these rules and affix the same at conspicuous part of such property and such notice shall also be published in a local newspaper. Confirmed attached property in the custody of Court 7. (1) Where the confirmed attached property is in the custody of any Court, the authorized officer shall make an application to such Court by providing a copy of the provisional attachment order issued under sub-section (1) of section 5 and the order under sub-section (3) of section 8 passed by the Adjudication Authority. (2) The application referred to in sub-rule (1) shall contain a relief that such property and any interest or dividend payable thereon may be released in favour of the Directorate of Enforcement. Confirmed attached property hypothecated or mortgaged or pledged to bank, financial institutions, etc. 8. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and such property shall be kept intact by all concerned for further proceedings under the Act; and I, ……………………………. therefore, order that all concerned are hereby prohibited and restrained until further order of the undersigned from transferring or charging the aforesaid property by sale, gift, mortgage, pledge or otherwise in any manner whatsoever and that all persons be and that they are hereby prohibited and restrained from receiving the same by purchase, gift, mortgage, pledge or otherwise in any manner whatsoever. Issued on this ……………….. day of ……….20 By Order ( ) Deputy Director/Joint Director/Additional Director (Name, designation and office seal) Sub-Zonal /Zonal/Regional office FORM II (see sub-rule (2) of rule 6) Notice for taking possession under sub-section (4) of section 8 of the Prevention of Money-laundering Act, 2002 (15 of 2003) Whereas the immovable property bearing …………….………………situated at ……………. and the s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by Adjudicating Authority under sub-section (3) of section 8 of the Act. 2. Date of possession of property. 3. Description of property (quantity, amount, estimated value). 4. Name(s) and address (es) of the person(s). 5. Name and address of the Warehouse/Storage place/Treasury or Bank where the property is deposited for safe custody. 6. Date and time of deposit of confirmed attached property in the Warehouse/Storage place or Treasury or Bank. 7. Remarks. (Signature with date of the Authorized Officer) (Name, designation and official rubber stamp to be affixed) FORM IV (see sub-rule (2) of rule 9) Possession of Confirmed Attached Property (Immovable) Register 1. Confirmation of Provisional Attachment Order Number / Freezing 0rder No. ……….. dated …….. issued by the Adjudicating Authority under sub-section (3) of section 8 of the Act. 2. Date of possession of confirmed attached property. 3. Description of property (quantity, amount, estimated value). 4. Name(s) and Address (es) of the person(s). 5. Details of letter issued to Registrar/Banks/State Government Departments, etc. 6. Remarks. (Signature with the date of the Authorised O ..... X X X X Extracts X X X X X X X X Extracts X X X X
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