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TMI BlogRationalizing the provisions of the Prohibition of Benami Property Transactions ActX X X X Extracts X X X X X X X X Extracts X X X X ..... BPT Act ) provide that the Initiating Officer, with the prior approval of the Approving Authority, shall conduct any inquiry or investigation. This power is exercised by the Initiating Officer where no case is pending before him. However, it is not expressly provided in the PBPT Act that the prior approval of Approving Authority shall not be required where the Initiating Officer has already initia ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... posed to amend the section 24 so as to provide that the period of ninety days in respect of provisional attachment of the property under section 24(3) and passing of order under section 24(4) shall be reckoned from the end of the month in which the notice under section 24(1) is issued. This amendment will take effect from 1st day of September, 2019. [Clause 173] ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ct, it is proposed to insert a new section 54A in the PBPT Act so as to provide for levy of penalty of rupees twenty five thousand for failure to comply with the summons issued or to furnish information under section 19 or section 21 respectively of the PBPT Act. This amendment will take effect from 1st September, 2019. [Clause 175] With a view to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ons, it is proposed to amend the said section so as to provide that no prosecution shall be instituted against any person in respect of any offence under the said Act without the previous sanction of the competent authority. This amendment will take effect from 1st September, 2019. [Clause 176] - FAQ - Frequently Asked Questions ..... X X X X Extracts X X X X X X X X Extracts X X X X
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