Treatise on PMLA – Law and Practice

About Treatise on PMLA – Law and Practice

Volume 1
The Prevention of Money-Laundering Act, 2002
CHAPTER I
Preliminary
Section Page No.
1. Short title, extent and commencement
2. Definitions
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, composition, powers, etc.
7. Staff of Adjudicating Authorities
8. Adjudication
9. Vesting of property in Central Government
10. Management of properties confiscated under this Chapter
11. Power regarding summons, production of documents and evidence, etc.
CHAPTER IV
Obligations of Banking Companies,
Financial Institutions and Intermediaries
11A. Verification of identity by reporting entity
12. Reporting entity to maintain records
12A. Access to information
12AA. Enhanced due diligence
13. Powers of Director to impose fine
14. No civil or criminal proceedings against reporting entity, its directors and employees in certain cases
15. Procedure and manner of furnishing information by reporting entities
CHAPTER V
Summons, Searches and Seizures, etc.
16. Power of survey
17. Search and seizure
18. Search of persons
19. Power to arrest
20. Retention of property
21. Retention of records
22. Presumption as to records or property in certain cases
23. Presumption in inter-connected transactions
24. Burden of proof
CHAPTER VI
Appellate Tribunal
25. Appellate Tribunal
26. Appeals to Appellate Tribunal
27. Composition, etc., of Appellate Tribunal
28. Qualifications for appointment
29. Term of office
30. Conditions of service
31. Vacancies
32. Resignation and removal
33. Member to act as Chairperson in certain circumstances
34. Staff of Appellate Tribunal
35. Procedure and powers of Appellate Tribunal
36. Distribution of business amongst Benches
37. Power of Chairman to transfer cases
38. Decision to be by majority
39. Right of appellant to take assistance of authorised representative and of Government to appoint presenting officers
40. Members, etc., to be public servants
41. Civil court not to have jurisdiction
42. Appeal to High Court
CHAPTER VII
Special Courts
43. Special Courts
44. Offences triable by Special Courts
45. Offences to be cognizable and non-bailable
46. Application of the Code of Criminal Procedure, 1973 to proceeding before Special Court
47. Appeal and revision
Volume 2
CHAPTER VIII
Authorities
48. Authorities under the Act
49. Appointment and powers of authorities and other officers
50. Powers of authorities regarding summons, production of documents and to give evidence, etc.
51. Jurisdiction of authorities
52. Power of Central Government to issue directions, etc.
53. Empowerment of certain officers
54. Certain officers to assist in inquiry, etc.
CHAPTER IX
Reciprocal arrangement for assistance in certain matters and
procedure for attachment and confiscation of property
55. Definitions
56. Agreements with foreign countries
57. Letter of request to a contracting state in certain cases
58. Assistance to a contracting state in certain cases
58A. Special Court to release the property
58B. Letter of request of a Contracting State or authority for confiscation or release the property
59. Reciprocal arrangements for processes and assistance for transfer of accused persons
60. Attachment, seizure and confiscation, etc., of property in a contracting state or India
61. Procedure in respect of letter of request

CHAPTER X
Miscellaneous
Section
62. Punishment for vexatious search
63. Punishment for false information or failure to give information, etc.
64. Cognizance of offences
65. Code of Criminal Procedure, 1973 to apply
66. Disclosure of information
67. Bar of suits in civil courts
68. Notice, etc., not to be invalid on certain grounds
69. Recovery of fine or penalty
70. Offences by companies
71. Act to have overriding effect
72. Continuation of proceedings in the event of death or insolvency
72A. Inter-ministerial Co-ordination Committee
73. Power to make rules
74. Rules to be laid before Parliament
75. Power to remove difficulties
THE SCHEDULE
Appendices
Appendix 1 Prevention of Money-Laundering Act, 2002
Appendix 2 Prevention of Money-Laundering (Appeal) Rules, 2005
Appendix 3 Prevention of Money-Laundering (Forms, Search and Seizure or Freezing and the Manner of Forwarding the Reasons and Material to the Adjudicating Authority, Impounding and Custody of Records and the Period of Retention) Rules, 2005
Appendix 4 Prevention of Money-Laundering (Maintenance of Records) Rules, 2005
Appendix 5 Prevention of Money Laundering (Manner of Receiving the Records Authenticated Outside India) Rules, 2005
Appendix 6 Prevention of Money-Laundering (Receipt and Management of Confiscated Properties) Rules, 2005
Appendix 7 Prevention of Money Laundering (The Forms and the Manner of Forwarding a Copy of Order of Arrest of a Person along with the Material to the Adjudicating Authority and its Period of Retention) Rules, 2005
Appendix 8 Prevention of Money-Laundering (The Manner of Forwarding a Copy of the Order of Provisional Attachment of Property along with the Material, and Copy of the Reasons along with the Material in Respect of Survey, to the Adjudicating Authority and its Period of Retention) Rules, 2005
Appendix 9 Prevention of Money Laundering (The Manner of Forwarding a copy of the Order of Retention of Seized Property along with the Material to the Adjudicating Authority and the Period of its Retention) Rules, 2005
Appendix 10 Prevention of Money-Laundering (Appointment and Conditions of Service of Chairperson and Members of Adjudicating Authorities) Rules, 2007
Appendix 11 Adjudicating Authority (Procedure) Regulations, 2013
Appendix 12 Prevention of Money-Laundering (Issuance of Provisional Attachment Order) Rules, 2013
Appendix 13 Prevention of Money-Laundering (Taking Possession of Attached or Frozen Properties Confirmed by the Adjudicating Authority) Rules, 2013
Appendix 14 Prevention of Money-Laundering (Restoration of Property) Rules, 2016
Appendix 15 (1) Notification No. GSR 436(E), dated 1-7-2005
(2) Notification No. GSR 437(E), dated 1-7-2005
(3) Notification No. GSR 438(E), dated 1-7-2005
(4) Notification No. GSR 439(E), dated 1-7-2005
(5) Notification No. GSR 440(E), dated 1-7-2005
(6) Notification No. GSR 441(E), dated 1-7-2005
(7) Notification No. GSR 381(E), dated 27-6-2006
(8) Notification No. GSR 382(E), dated 27-6-2006
(9) Order No. SO. 1900(E), dated 3-11-2006
(10) Notification No. 2/2008-Ad.ED, SO 83(E), dated 14-1-2008
(11) Notification No. SO 2987(E), dated 30-12-2008
(12) Notification No. SO. 1388(E), dated 1-6-2009
(13) Notification No. SO 906(E), dated 21-4-2010
(14) Notification No. SO 1159(E), dated 23-5-2012
(15) Notification No. SO 1459(E), dated 4-7-2012
(16) Notification No. SO 1718(E), dated 27-7-2012
(17) Notification No. SO 2127(E), dated 10-8-2012
(18) Notification No. SO 2618(E), dated 30-10-2012
(19) Notification No. SO 35(E), dated 3-1-2013
(20) Notification No. SO 343(E), dated 8-2-2013
(21) Notification No. SO 1170(E), dated 8-5-2013
(22) Notification No. 8/2013/SO 2309(E), dated 26-7-2013
(23) Notification No. GSR 684(E), dated 24-9-2014
(24) Notification No. SO 3004(E), dated 27-11-2014
(25) Notification No. GSR 287(E), dated 15-4-2015
(26) Notification No. GSR 299(E), dated 17-4-2015
(27) Notification No. SO 3183(E), dated 26-11-2015
(28) Notification No. SO 372(E), dated 5-2-2016
(29) Notification No. SO 447(E), dated 11-2-2016
(30) Notification No. GSR 1223(E), dated 6-10-2017
(31) Notification No. GSR 1509(E), 13-12-2017
(32) Notification No. 10/2017, dated 13-12-2017
(33) Notification No. GSR 314(E), dated 31-3-2018
(34) Notification No. GSR 424(E), dated 4-5-2018
(35) Notification No. SO 3870(E), dated 6-8-2018
(36) Notification No. SO 2194(E), dated 15-5-2019
(37) Notification No. GSR 762(E), dated 7-10-2019
(38) Notification No. GSR 882(E), dated 28-11-2019
(39) Notification No. GSR 261(E), dated 22-4-2020
(40) Notification No. GSR 262(E), dated 23-4-2020
(41) Notification No. GSR 465(E), dated 24-7-2020
(42) Notification No. GSR 516(E), dated 20-8-2020
(43) Notification No. GSR 784(E), dated 22-12-2020
(44) Notification No. GSR 798(E), dated 28-12-2020
(45) Notification No. GSR 799(E), dated 28-12-2020
(46) Notification No. GSR 59(E), dated 28-1-2021
(47) Notification No. GSR 461(E), dated 30-6-2021
(48) Notification No. GSR 650(E), dated 22-9-2021
(49) Notification No. GSR 651(E), dated 22-9-2021
(50) Notification No. SO 4603(E), dated 3-11-2021
(51) Notification No. GSR 37(E), dated 4-1-2022
(52) Notification No. SO 1702(E), dated 8-4-2022
(53) Notification No. SO 2543(E), dated 2-6-2022
(54) Notification No. SO 4716(E), dated 4-10-2022
(55) Notification No. SO 4827(E), dated 7-10-2022
(56) Notification No. GSR 832(E), dated the 22-11-2022
(57) Notification No. SO 5433(E), 22-11-2022
(58) Notification No. SO 5475(E), dated the 24-11-2022
(59) Notification No. GSR 854(E), dated the 29-11-2022
(60) Notification No. GSR 855(E), dated the 29-11-2022
(61) Notification No. SO 5778(E), dated the 12-12-2022
(62) Notification No. SO 446(E), dated the 30-1-2023
(63) Notification No. SO 1072(E), dated the 7-3-2023
(64) Notification No. SO 2036(E), dated 3-5-2023
(65) Notification No. SO 2119(E), dated 4-5-2023
(66) Notification No. SO 2135(E), dated 9-5-2023
(67) Notification No. GSR 491(E), dated 7-7-2023
(68) Notification No. GSR 652(E), dated 4-9-2023
(69) Notification No. S.O. 3965(E), dated 6-9-2023
(70) Notification No. S.O. 3980(E), dated 12-9-2023
(71) Notification No. S.O. 4496(E), dated 13-10-2023
(72) Notification No. GSR 745(E), dated 17-10-2023
(73) Notification No. S.O. 4876(E), dated 9-11-2023
(74) Notification No. S.O. 4877(E), dated 9-11-2023
(75) Notification No. S.O. 180(E), dated 16-1-2024
(76) Notification No. S.O. 810(E), dated 20-2-2024
(77) Notification No. S.O. 933(E), dated 28-2-2024
(78) Notification No. S.O. 1339(E), dated 14-3-2024
(79) Notification No. S.O. 1863(E), dated 30-4-2024
(80) Notification No. S.O. 2252(E), dated 12-6-2024
(81) Notification No. GSR 419(E), dated 19-7-2024
(82) Notification No. S.O. 3453(E), dated 13-8-2024
(83) Notification No. S.O. 3454(E), dated 13-8-2024
(84) Notification No. S.O. 3508(E), dated 19-8-2024
(85) Notification No. S.O. 3586(E), dated 22-8-2024
(86) Notification No. S.O. 3872(E), dated 10-9-2024
(87) Notification No. S.O. 3885(E), dated 10-9-2024
(88) Notification No. S.O. 4240(E), dated 26-9-2024
(89) Notification No. S.O. 5211(E), dated 3-12-2024
(90) Notification No. S.O. 5258(E), dated 6-12-2024 ? PMLA
(91) Notification No. S.O. 5259(E), dated 6-12-2024 ? PMLA
(92) Notification No. S.O. 5260(E), dated 6-12-2024 ? PMLA
(93) Notification No. S.O. 5371(E), dated 12-12-2024 ? PMLA
Appendix 16 Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016
Appendix 17 Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015
Appendix 18 Narcotic Drugs and Psychotropic Substances Act, 1985
Appendix 19 Prohibition of Benami Property Transactions Act, 1988
Appendix 20 RBI’s Master Direction – Know Your Customer (KYC)
Direction, 2016
Appendix 21 SEBI?s Master Circular on ?Guidelines on Anti-Money Laundering (AML) Standards and Combating the Financing of Terrorism (CFT)/Obligations of Securities Market Intermediaries under the Prevention of Money Laundering Act, 2002 and Rules framed there under?
Appendix 22 United Nations Convention Against Illicit Traffic in Narcotic Drugs and Psychotropic Substances, 1988
Appendix 23 Anti-Money Laundering and Counter-Terrorist Financing Measures ? India
Appendix 24 FATF Recommendations International Standards on Combating Money Laundering and the Financing of Terrorism & Proliferation
Appendix 25 Provisions of Offences under the Indian Penal Code, 1860 (45 of 1860)/Bharatiya Nyaya Sanhita, 2023
Appendix 25A Table Showing Corresponding Sections of Indian Penal Code, 1860 vs. Sections of Bharatiya Nyaya Sanhita, 2023
Appendix 25B Table Showing Corresponding Sections of Code of Criminal Procedure, 1973 vs. Sections of Bharatiya Nagarik Suraksha Sanhita, 2023
Appendix 25C Table Showing Corresponding Sections of Indian Evidence Act, 1872 vs Sections of Bharatiya Sakshya Adhiniyam, 2023
Appendix 26 Provisions of Offences under the Narcotic Drugs and Psychotropic Substances Act, 1985 (61 of 1985)
Appendix 27 Provisions of Offences under the Explosive Substances Act, 1908 (6 of 1908)
Appendix 28 Provisions of Offences under the Unlawful Activities (Prevention) Act, 1967 (37 of 1967)
Appendix 29 Provisions of Offences under the Arms Act, 1959 (54 of 1959)
Appendix 30 Provisions of Offences under the Wild Life (Protection) Act, 1972 (53 of 1972)
Appendix 31 Provisions of Offences under the Immoral Traffic (Prevention) Act, 1956 (104 of 1956)
Appendix 32 Provisions of Offences under the Prevention of Corruption Act, 1988 (49 of 1988)
Appendix 33 Provisions of Offences under the Explosives Act, 1884
(4 of 1884)
Appendix 34 Provisions of Offences under the Antiquities and Arts Treasures Act, 1972 (52 of 1972)
Appendix 35 Provisions of Offences under the Securities and Exchange Board of India Act, 1992 (15 of 1992)
Appendix 36 Provisions of Offences under the Customs Act, 1962 (52 of 1962)
Appendix 37 Provisions of Offences under the Bonded Labour System (Abolition) Act, 1976 (19 of 1976)
Appendix 38 Provisions of Offences under the Child Labour (Prohibition and Regulation) Act, 1986 (61 of 1986)
Appendix 39 Provisions of Offences under the Transplantation of Human Organs Act, 1994 (42 of 1994)
Appendix 40 Provisions of Offences under the Juvenile Justice (Care and Protection of Children) Act, 2000 (56 of 2000)
Appendix 41 Provisions of Offences under the Emigration Act, 1983
(31 of 1983)
Appendix 42 Provisions of Offences under the Passports Act, 1967 (15 of 1967)
Appendix 43 Provisions of Offences under the Foreigners Act, 1946
(31 of 1946)
Appendix 44 Provisions of Offences under the Copyright Act, 1957
(14 of 1957)
Appendix 45 Provisions of Offences under the Trade Marks Act, 1999
(47 of 1999)
Appendix 46 Provisions of Offences under the Information Technology Act, 2000 (21 of 2000)
Appendix 47 Provisions of Offences under the Biological Diversity Act, 2002 (18 of 2003)
Appendix 48 Provisions of Offences under the Protection of Plant Varieties and Farmers Rights Act, 2001 (53 of 2001)
Appendix 49 Provisions of Offences under the Environment Protection Act, 1986 (29 of 1986)
Appendix 50 Provisions of Offences under the Water (Prevention and Control of Pollution) Act, 1974 (6 of 1974)
Appendix 51 Provisions of Offence under the Air (Prevention and Control of Pollution) Act, 1981 (14 of 1981)
Appendix 52 Provisions of Offence under the Suppression of Unlawful, Acts against Safety of Maritime Navigation and Fixed Platforms on Continental Shelf Act, 2002 (69 of 2002)
Appendix 53 Provisions of Offence under the Companies Act, 2013 (18 of 2013)
Appendix 54 Provisions of Offence under the Customs Act, 1962 (52 of 1962)
Appendix 55 Provisions of Offences of Cross Border Implications
Appendix 56 Prevention of Money-Laundering (Amendment) Act, 2005 (Act No. 20 of 2005)
Appendix 57 Prevention of Money-Laundering (Amendment) Act, 2009 (Act No. 21 of 2009)
Appendix 58 Prevention of Money-Laundering (Amendment) Act, 2012 (Act No. 2 of 2013)
Appendix 59 Other Amending Acts
1. Extracts of amendment made by the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015
2. Extracts of amendments made by the Finance Act, 2015
3. Extracts of amendments made by the Finance Act, 2016
4. Extracts of amendments made by the Finance Act, 2018
5. Extracts of amendments made by the Finance (No. 2) Act, 2019
6. Extracts of amendments made by the Aadhaar and Other Laws (Amendment) Act, 2019
Appendix 60 Twelfth Report Standing Committee on Finance (1998-99)
Appendix 61 Report of the Select Committee on the Prevention of Money-Laundering Bill, 1999
Appendix 62 Standing Committee Reports on Prevention of Money-Laundering (Amendment) Bill, 2008
Appendix 63 Frequently Asked Questions ? FIU
Appendix 64 Frequently Asked Questions ? Enforcement Directorate