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Section 16 – The Prevention of Money-Laundering Bill, 1999

The Prevention of Money-Laundering Bill, 1999

 

16. Search and Seizure –

 

(1) Where the Director, on the basis of information in his possession, has reason to believe that any person;-

 

(i) Has committed any act which constitutes money-laundering, or

 

(ii) Is in possession of any proceeds of crime involved in money-laundering, or

 

(iii) Is in possession of any records relating to money-laundering, then, subject to the rules made in this behalf, he may authorise any officer subordinate to him to-

 

(a) Enter and search any building, place, vessel, vehicle or aircraft where he has reason to suspect that such records or proceeds of crime are kept;

 

(b) Break open the lock of any door, box, locker, safe, almirah or other receptacle for exercising the powers conferred by clause (a) where the keys thereof are not available;

 

(c) Seize any record or property found as a result of such search;

 

(d) Place marks of identification on such record or make or cause to be made extracts or copies therefrom;

 

(e) Make a note or an inventory of such record or property;

 

(f) Examine on oath any person, who is found to be in possession or control of any record or property, in respect of all matters relevant for the purposes of any investigation under this Act:

 

Provided that no search shall be conducted unless, in relation to an offence under-

 

(a) Part I, Part II, Part III or Part V of the Schedule, a report has been forwarded to a Magistrate under section 173 of the Code of Criminal Procedure, 1973 (2 of 1974), or (b) Part IV of the Schedule, a police report or a complaint has been filed for taking cognizance of an offence by the Special Court constituted under sub-section (1) of section 36 of the Narcotic Drugs and Psychotropic Substances Act, 1985 (61 of 1985).

 

(2) Where an authority, upon information obtained during survey under section 15, is satisfied that any evidence shall he or is likely to be concealed or tampered with, he may, for reasons to be recorded in writing, enter and search the building or place where such evidence is located and seize that evidence:

 

Provided that no authorisation referred to in sub-section (1) shall be required for search under this sub-section.

 

The authority seizing any record or property under this section shall within a period of thirty days from such seizure, file an application, requesting for retention of such record or property, before the Adjudicating Authority.

 

 

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The Prevention of Money-Laundering Bill, 1999

 

Indian Laws – Bare Acts

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