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THE PREVENTION OF MONEY-LAUNDERING ACT, 2002

ACT NO. 15 OF 2003 · Enacted [17th January, 2003.] · 79 sections

PRELIMINARY

Section 1.Short title, extent and commencement.
Section 2.Definitions.

OFFENCE OF MONEY-LAUNDERING

Section 3.Offence of money-laundering.
Section 4.Punishment for money-laundering.

ATTACHMENT, ADJUDICATION AND CONFISCATION

Section 5.Attachment of property involved in money-laundering.
Section 6.Adjudicating Authorities, composition, powers, etc.
Section 7.Staff of Adjudicating Authorities.
Section 8.Adjudication.
Section 9.Vesting of property in Central Government.
Section 10.Management of properties confiscated under this Chapter.
Section 11.Power regarding summons, production of documents and evidence, etc.
Section 11A.Verification of identity by reporting entity.

OBLIGATIONS OF BANKING COMPANIES, FINANCIAL INSTITUTIONS AND INTERMEDIARIES

Section 12.Reporting entity to maintain records.
Section 12A.Access to information.
Section 13.Powers of Director to impose fine.
Section 14.No civil or criminal proceedings against reporting entity, its directors and employees in certain cases.
Section 15.Procedure and manner of furnishing information by reporting entities.

SUMMONS, SEARCHES AND SEIZURES, ETC.

Section 16.Power of survey.
Section 17.Search and seizure.
Section 18.Search of persons.
Section 19.Power to arrest.
Section 20.Retention of property.
Section 21.Retention of records.
Section 22.Presumption as to records or property in certain cases.
Section 23.Presumption in inter-connected transactions.
Section 24.Burden of proof.

APPELLATE TRIBUNAL

Section 25.Appellate Tribunal.
Section 26.Appeal to Appellate Tribunal.
Section 27.[Omitted.].
Section 28.[Omitted.].
Section 29.[Omitted.].
Section 30.[Omitted.].
Section 31.[Omitted.].
Section 32.[Omitted.].
Section 33.[Omitted.].
Section 34.[Omitted.].
Section 35.Procedure and powers of Appellate Tribunal.
Section 36.Distribution of business amongst Benches.
Section 37.Power of Chairperson to transfer cases.
Section 38.Decision to be by majority.
Section 39.Right of appellant to take assistance of authorised representative and of Government to appoint presenting officers.
Section 40.Members, etc., to be public servants.
Section 41.Civil court not to have jurisdiction.
Section 42.Appeal to High Court.

SPECIAL COURTS

Section 43.Special Courts.
Section 44.Offences triable by Special Courts.
Section 45.Offences to be cognizable and non-bailable.
Section 46.Application of Code of Criminal Procedure, 1973 to proceedings before Special Court.
Section 47.Appeal and revision.

AUTHORITIES

Section 48.Authorities under Act.
Section 49.Appointment and powers of authorities and other officers.
Section 50.Powers of authorities regarding summons, production of documents and to give evidence, etc.
Section 51.Jurisdiction of authorities.
Section 52.Power of Central Government to issue directions, etc.
Section 53.Empowerment of certain officers.
Section 54.Certain officers to assist in inquiry etc.

RECIPROCAL ARRANGEMENT FOR ASSISTANCE IN CERTAIN MATTERS AND PROCEDURE FOR ATTACHMENT AND CONFISCATION OF PROPERTY

Section 55.Definitions.
Section 56.Agreements with foreign countries.
Section 57.Letter of request to a contracting State in certain cases.
Section 58.Assistance to a contracting State in certain cases.
Section 58A.Special Court to release the property.
Section 58B.Letter of request of a contracting State or authority for confiscation or release the property.
Section 59.Reciprocal arrangements for processes and assistance for transfer of accused persons.
Section 60.Attachment, seizure and confiscation, etc., of property in a contracting State or India.
Section 61.Procedure in respect of letter of request.

MISCELLANEOUS

Section 62.Punishment for vexatious search.
Section 63.Punishment for false information or failure to give information, etc.
Section 64.Cognizance of offences.
Section 65.Code of Criminal Procedure, 1973 to apply.
Section 66.Disclosure of information.
Section 67.Bar of suits in civil courts.
Section 68.Notice, etc., not to be invalid on certain grounds.
Section 69.Recovery of fine or penalty.
Section 70.Offences by companies.
Section 71.Act to have overriding effect.
Section 72.Continuation of proceedings in the event of death or insolvency.
Section 73.Power to make rules.
Section 74.Rules to be laid before Parliament.
Section 75.Power to remove difficulties.