Roop's Law Assist
Waitlist

THE PREVENTION OF MONEY-LAUNDERING (RECEIPT AND MANAGEMENT OF CONFISCATED 2005 1

eadc4b2cb356d80260011cafb094b1893316f768 · 2002 · State unknown

Download PDFParent ActBack to Subordinates
Parent: THE PREVENTION OF MONEY -LAUNDERING ACT, 2002 (544a163435adf0662860bb3ba3dcf1402ee412e2)

Text

THE PREVENTION OF MONEY-LAUNDERING (RECEIPT AND MANAGEMENT OF CONFISCATED 2005 1 PROPERTIES) RULES, In exercise of the powers conferred by sub-section (1) read with clause (fJ of sub-section (2) of section 73 of the Prevention of Money-laundering Act, t, 2002 (15 of 2003), the Central Government hereby makes the following rules for receipt and management of co nfiscated properties, namely:- 1 . Short title and commencement . -(l) These rules may be called the Prevention of Money-laundering (Receipt and Management of Confiscated Properties) Rules , 2005 -. They shall come into force on the date? of their publication in the Official ' Gazette . Definitions . -(l) In these rules, unless the context otherwise requires ,- (a) /I Act " means the Prevention of Money-laundering Act , 2002 (15 of 2003); (b) /I Adjudicating Authority" means an Adjudicating bf Authority appointed under sub-section (1) of section jg 6 bf the Act; (c) " Admirustrator" 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 a section of the Act . 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 . 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 '

Rule TOC

1 · . Short title and commencement . -(l) These rules may be called the Prevention of Money-laundering (Receipt and Management of Confiscated Properties) Rules , 2005 -.
6 · bf the Act;
4 · . Management of confiscated property.-(1) Where the property confiscated is of such a nature that its removal from the place of attachment is impracticable or its removal involves expenditure out of proportion to the value of the property, the Administrator shall arrange for the proper maintenance and custody of the property at the place of attachment .
1 · , Vide G . S.R . 443 (E) , dated 1st July, 2005 , published in the Gazette of India . Extra ., Pt . [I , See . 3(i), dated 1st July, 2005.
2 · . Came into force on 1-7-2005.
1 · . Order number :
2 · . Date of receipt of properties:
4 · . Name(s) and address(es) of the accused:
7 · . Receipt number with date of the receipt obtained from the Treasury or bank:
8 · . Remarks of the Administrator:
1 · . Order Number:
2 · . D~te of receipt of properties :
4 · . Name(s) and addressees) of the accused: