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Section 55 – Prevention of Money Laundering Act,2002

Prevention of Money Laundering Act,2002

Section 55. Definitions

In this Chapter, unless the context otherwise requires,

(a) “contracting State” means any country or place outside India in respect of which arrangements have been made by the Central Government with the Government of such country through a treaty or otherwise;

(b) “identifying” includes establishment of a proof that the property was derived from, or used in the commission of an offence under section 3;

(c) “tracing” means determining the nature, source, disposition, movement, title or ownership of property.

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Prevention of Money Laundering Act,2002

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