Section 3
Subs . by Act 2 of 2013, s.16, for sections 20 and 21 (w.e.f. 15-2-2013).
3. Subs . by Act 2 of 2013, s.16, for sections 20 and 21 (w.e.f. 15-2-2013).
Authority, in a sealed envelope, in the manner as may be prescribed and such Adjudicating Authority shall keep such order and material for such period as may be prescribed.
(3) On the expiry of the period specified in sub-section (1), the property shall be returned to the person from whom such property was seized or whose property was ordered to be frozen unless the Adjudicating Authority permits retention or continuation of freezing of such property beyond the said period.
(4) The Adjudicating Authority, before authorising the retention or continuation of freezing of such property beyond the period specified in sub-section (1), shall satisfy himself that the property is prima facie involved in money-laundering and the property is required for the purposes of adjudication under section 8.
(5) After passing the order of confiscation under sub-section (5) or sub-section (7) of section 8, 1 [Special Court], shall direct the release of all property other than the property involved in money -laundering to the person from whom such property was seized or the persons entitled to receive it.
(6) Where an order releasing the property has been made by the 2 [Special Court] under sub -section (6) of section 8 or by the Adjudicating Authority under section 58B or sub-section (2A) of section 60, the Director or any officer authorised by him in this behalf may withhold the release of any such property for a period of ninety days from the date of 3 [receipt of] such order, if he is of the opinion that such property is relevant for the appeal proceedings under this Act.
Roop's Law Assist