THE PREVENTION OF MONEY-LAUNDERING (RECEIPT AND MANAGEMENT OF CONFISCATED PROPERTIES) RULES; 20051 In exercis… — THE PREVENTION OF MONEY -LAUNDERING ACT, 2002

THE PREVENTION OF MONEY-LAUNDERING (RECEIPT AND MANAGEMENT OF CONFISCATED PROPERTIES) RULES; 20051 In exercise of the powers conferred by sub-section (1) read with clause (f) of sub-section (2) of section 73 of the Prevention of Money-laundering Act, 2002 (15 of 2003), the Central Government hereby makes the following rules for receipt and management of confiscated properties, namely: 1. Short title and commencement: These rules may be called the Prevention of Money-laundering (Receipt and Management of Confiscated Properties) Rules, 2005. (2) They shall come into force on the date? of their publication in the Official Gazette: 2 Definitions.- (1) In these rules, unless the context otherwise requires; (a) Act" means the Prevention of Money-laundering Act; 2002 (15 of 2003); (b) Adjudicating Authority" means an Adjudical ting Authorily appointed under sub-section (1) of section 6 of the Act; (c) Administrator means an officer appointed by the Central Government under sub-section (1) of section 10 of the Act; (d) "attachment" means prohibition of transfer, conversion, disposition or movement of property by an order issued under Chapter III of the Act; (e) "Form means forms appended to these rules; (f) "order means an order made by the Adjudicating Authority under sub-section (6) of section 8 of the Act; (g) section means section of the Act: (2) All other words and expressions used and not defined in these rules but defined in the Act, shall have the meaning respectively assigned to them in the Act; 3 . Receipt of confiscated property:-~The Administrator shall, at the time of receiving the confiscated properties, ensure proper identification of such property with reference to its particulars mentioned in the order confiscating such property. 4_ Management of confiscated pr