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TMI BlogAmendment of Act 45 of 1988.X X X X Extracts X X X X X X X X Extracts X X X X ..... d specified in the said notice or such period as may be extended by the Initiating Officer, not exceeding three months from the end of the month in which the said notice is issued. ; (ii) in sub-section (3), for the words ninety days , the words four months shall be substituted; (iii) in sub-section (4), for the words ninety days , the words four months shall be substituted; (iv) in sub-section (5), for the words fifteen days from the date of the attachment , the words one month from the end of the month in which the said order has been passed shall be substituted; (b) after section 55, the following section shall be inserted, namely: Power to tender Immunity from prosecution. 55A. (1) The Initiating Officer may, with a view to obtaining th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... alty under this Act to which he would otherwise have been liable. . - Miscellaneous Clause 154 of the Bill seeks to amend the Prohibition of Benami Property Transactions Act, 1988. Sub-section (2) of section 24 of the said Act provides for any time limit for a benamidar to furnish a reply to the notice issued under sub-section (1) or the beneficial owner to file submissions on copy of said notice given to him under sub-section (2). It is proposed to insert a new sub-section (2A) in the said section so as to provide a maximum period of three months from the last day of the month in which notice is issued under sub-section (1) for the benamidar or the beneficial owner to file their explanations or submissions. Sub-section (3) and sub-section ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... section to the benamidar or such other person, with the previous sanction of the competent authority as referred to in section 55, on condition that the benamidar or such other person makes a full and true disclosure of the whole circumstances relating to the benami transaction. Sub-section (2) of proposed new section provides that the tender of immunity made to, and accepted by, the person benamidar or such other person, shall, to the extent to which the immunity extends, render him immune from prosecution for the offence in respect of which the tender was made and from the imposition of any penalty under section 53. Sub-section (3) of proposed new section provides that if it appears to the Initiating Officer that any person to whom immun ..... X X X X Extracts X X X X X X X X Extracts X X X X
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