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TMI BlogProhibition of Benami Property Transactions (Removal of Difficulties) Second Order, 2018X X X X Extracts X X X X X X X X Extracts X X X X ..... nsactions Act, 1988 (45 of 1988 ) (hereinafter referred to as the Benami Act) states that the Central Government may, by notification, provide that until the Adjudicating Authorities are appointed and the Appellate Tribunal is established under the Benami Act , the Adjudicating Authority appointed under sub-section (1) of section 6 of the Prevention of Money-laundering Act, 2002 (15 of 2003) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Benami Act shall cease to discharge the functions under the Benami Act, and whereas, there shall be a time gap between the appointment of the Adjudicating Authority and establishment of the Appellate Tribunal under the Benami Act and discharging the functions of the said Authority and the said Appellate Tribunal under the Benami Act ; AND, whereas, a difficulty has arisen in respect of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... end of the month in which the reference has been received by it from the Initiating Officer and whereas, on the date on which the Adjudicating Authority under the Benami Act shall discharge the functions under the Benami Act, there may be references pending before the Adjudicating Authority notified under section 71 of Benami Act in which order under sub-section (3) of section 26 may be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ties) Second Order, 2018. (2) It shall come into force on the date of its publication in the Official Gazette. 2. In section 71 of the Prohibition of Benami Property Transactions Act, 1988 , after the words under this Act occurring at the end, the words for such period and in respect of such cases or class of cases as may be specified in the said notification shall be inserted. [F ..... X X X X Extracts X X X X X X X X Extracts X X X X
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