Commencement of this Part.

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... s 204 and 205 of the Bill seeks to amend certain provisions of the Prevention of Money-laundering Act, 2002, which include the following, namely:- (i) to amend the definition "proceeds of crime" so as to allow to proceed against property equivalent to proceeds to crime held outside the country. (ii) to insert an Explanation to section 5 of the said Act for the purposes of computing the .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... cation is required to be heard by Special Court. (v) to amend section 45 of the Act relating to offences to be cognizable and non-bailable and to amend sub-section (1) of section 45 to substitute the words "punishable for a term of imprisonment of more than three years under Part A of the Schedule" by the words "under this Act" so as to take a step further towards delinking th .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... rther, sub-clause (ii) seeks to insert sub-section (2) in section 66 that "on the basis of material in his possession, if the authority suspects the contravention of any other law then the authority shall share the information with the concerned agency and the agency shall act on that information forthwith", so as to give clear guidance to the officials. (viii) to amend the Schedule to .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X