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Section 4 – The Prevention of Money-Laundering Bill, 1999

The Prevention of Money-Laundering Bill, 1999

 

4. Punishment for money-laundering

 

Whoever commits the offence of money-laundering shall be punishable with rigorous imprisonment for a term which shall not be less than three years but which may extend to seven years and shall also be liable to fine which may extend to five lakh rupees:

 

Provided that where the proceeds of crime involved in money-laundering relates to any offence specified in Part IV of the Schedule, the provisions of this section shall have effect as if for the words “which may extend to seven years”, the words “which may extend to ten years” had been substituted.

 

 

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The Prevention of Money-Laundering Bill, 1999

 

Indian Laws – Bare Acts

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