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Section 44 – The Prevention of Money-Laundering Bill, 1999

The Prevention of Money-Laundering Bill, 1999

 

44. Offences to be cognizable and non-bailable –

   

(1) Notwithstanding anything contained in the Code of Criminal Procedure, 1973 (2 of 1974),-

 

(a) Every offence punishable under this Act shall be cognizable; (b) No person accused of an offence punishable for a term of imprisonment of more than three years under this Act shall be released on bail or on his own bond unless-

 

(i) The Public Prosecutor has been given an opportunity to oppose the application for such release; and

 

(ii) Where the Public Prosecutor opposes the application, the court is satisfied that there are reasonable grounds for believing that he is not guilty of such offence and that he is not likely to commit any offence while on bail:

 

Provided that a person under the age of sixteen years is a woman or is sick or infirm, may be released on bail, if the special court so directs:

 

Provided further that the Special Court shall not take cognizance of any offence punishable under section 4 except upon a complaint in writing made by-

 

(i) The Director; or (ii) Any officer of the Central Government or State Government authorised in writing in this behalf by the Central Government by a general or a special order made in this behalf by that Government.

 

(2) The limitation on granting of bail specified in clause (b) of sub-section (1) is in addition to the limitations under the Code of Criminal Procedure, 1973 (2 of 1974) or any other law for the time being in force on granting of bail.

 

 

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The Prevention of Money-Laundering Bill, 1999

 

Indian Laws – Bare Acts

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