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The Prevention of Money-Laundering Bill, 1999

The Prevention of Money-Laundering Bill, 1999





1 Short title, extent and commencement.
2 Definitions and interpretation.
Chapter II Offence Of Money – Laundering
3 Offence of money-laundering
4 Punishment for money laundering
Chapter III Attachment, Adjudication and Confiscation
5 Attachment of property involved in money-laundering
6 Adjudicating Authority
7 Adjudication
8 Vesting of property in Central government
9 Management of properties confiscated under this chapter
10 Power regarding summons, production of documents and evidence etc.
Chapter IV Obligations of Banking Companies, Financial Institutions and intermediaries
11 Banking Companies, Financial Institutions and intermediaries to maintain records
12 Powers of Director to impose fine
13 No civil Proceedings against banking companies, financial institutions, etc., in certain cases
14 Procedure and manner of furnishing information by banking company, financial institution and intermediary
Chapter V Summons, Searches and Seizures, etc.
15 Power of survey
16 Search and Seizure
17 Search of Persons
18 Power to arrest
19 Retention of Property
20 Retention of records
21 Presumption as to records or property in certain cases
22 Presumption in inter-connected transactions
23 Presumption of culpable mental state
Chapter VI Appellate Tribunal
24 Establishment of Appellate Tribunal
25 Appeals to Appellate Tribunal
26 Composition, etc., of Appellate Tribunal
27 Qualifications for appointment
28 Term of office
29 Conditions of Service
30 Vacancies
31 Resignation and Removal
32 Member to act as Chairperson in certain circumstances
33 Staff of Appellate Tribunal
34 Procedure and powers of Appellate Tribunal
35 Distribution of business amongst Benches
36 Power of Chairperson to transfer cases
37 Decision to be by majority
38 Right of appellant to take assistance of legal practitioner and of government, etc., to appoint presenting officers
39 Members, etc., to be public servants
40 Civil courts not to have jurisdiction
41 Appeal to High court
Chapter VII Special Courts
42 Special Courts
43 Offences tribal by Special Courts
44 Offences to be cognizable and non-bailable
45 Application of the Code of Criminal Procedure, 1973 to proceeding before Special Court
46 Appeal and Revision
Chapter VIII Authorities
47 Authorities under the act
48 Appointment and powers of authorities and other officers
49 Powers of authorities regarding summons, production of documents and to give evidence, etc.
50 Jurisdiction of Authorities
51 Power of Central Government to issue directions, etc.
52 Empowerment of certain officers
53 Certain officers to assist in inquiry, etc.
Chapter IX Reciprocal arrangement for assistance in certain matters and procedures for attachment and confiscation of property
54 Definitions
55 Agreements with foreign Countries
56 Letter of request to a contracting state in certain cases
57 Assistance to a contracting state in certain cases
58 Reciprocal arrangement for processes and assistance for transfer of accused persons
59 Attachment, seizure and confiscation, etc. of property in a contracting state of India
60 Procedure in respect of letter of request
Chapter X Miscellaneous
61 Punishment for vexatious search
62 Punishment for false information or failure to give information etc.
63 Cognizance of offences
64 Code of Criminal Procedure, 1973 to apply
65 Disclosure of information
66 Bar of suits in civil courts
67 Notice, etc., not to be invalid on certain grounds
68 Recovery of fines
69 Offences by companies
70 Act to have overriding effect
71 Continuation of proceedings in the event of death or insolvency
72 Power to make rules
73 Rules to be laid before Parliament
74 Power to remove difficulties
    The Schedule
Part I Offences under the Indian Penal Code
Part II Offences under the Immoral Traffic (Prevention) Act, 1956
Part III Offences under the Arms Act, 1959
Part IV Offences under the Narcotic Drugs and Psychotropic Substances Act, 1985
Part V Offences under the Prevention of Corruption Act, 1988


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