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Section 9 – The Prevention of Money-Laundering Bill, 1999

The Prevention of Money-Laundering Bill, 1999

 

9. Management of properties confiscated under this Chapter –

 

(1) The Central Government may, by order published in the Official Gazette, appoint as many of its officers (not below the rank of Joint Secretary to the Government of India) as it thinks fit, to perform the functions of an Administrator.

 

(2) The Administrator appointed under sub-section (1) shall receive and manage the property in relation to which an order has been made under sub-section (6) of section 7 in such manner and subject to such conditions as may be prescribed.

 

(3) The Administrator shall also take such measures, as the Central Government may direct, to dispose of the property which is vested in the Central Government under section 8.

 

 

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The Prevention of Money-Laundering Bill, 1999

 

Indian Laws – Bare Acts

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