Bare Act Search Results

Prevention of Money-laundering Act, 2002 Section 20

Title: Retention of Property

State: Central

Year: 2002

.....the said period. (4) The Adjudicating Authority, before authorising the retention of such property beyond the period specified in sub-section (1), shall satisfy himself that the property is prima facie involved in money-laundering and the property is required for the purposes of adjudication under section 8. (5) After passing the order of confiscation under sub-section (6) of section 8, the Adjudicating Authority shall direct the release of all properties other than the properties involved in money-laundering to the person from whom such properties were seized. (6) Notwithstanding anything contained in sub-section (5), the Director or any officer authorised by him in this behalf may withhold the release of any property until filing of appeal under section 26 or forty-five days from the date of order under sub-section (5), whichever is earlier, if he is of the opinion that such property is relevant for the proceedings before the Appellate Tribunal.

Prevention of Money-laundering Act, 2002 Section 21

Title: Retention of Records

State: Central

Year: 2002

.....were seized unless the Adjudicating Authority permits retention of such records beyond the said period. (4) The Adjudicating Authority, before authorising the retention of such records beyond the period mentioned in sub-section (1), shall satisfy himself that the records are required for the purposes of adjudication under section 8. (5) After passing of an order of confiscation under sub-section (6) of section 8, the Adjudicating Authority shall direct the release of the records to the person from whom such records were seized. (6) Notwithstanding anything contained in sub-section (5), the Director or any officer authorised by him in this behalf may withhold the release of any records until filing of appeal under section 26 or after forty-five days from the date of order under sub-section (5), whichever is earner, if he is of the opinion that such records are relevant for the proceedings before the Appellate Tribunal.

Information Technology Act, 2000 Section 7

Title: Retention of Electronic Records

State: Central

Year: 2000

(1) Where any law provides that documents, records or information shall be retained for any specific period, then, that requirement shall be deemed to have been satisfied if such documents, records or information are retained in the electronic form, if-- (a) the information contained therein remains accessible so as to be usable for a subsequent reference; (b) the electronic record is retained in the format in which it was originally generated, sent or received or in a format which can be demonstrated to represent accurately the information originally generated, sent or received; (c) the details which will facilitate the identification of the origin, destination, date and time of despatch or receipt of such electronic record are available in the electronic record: Provided that this clause does not apply to any information which is automatically generated solely for the purpose of enabling an electronic record to be despatched or received. (2) Nothing in this section shall apply to any law that expressly provides for the retention of documents, records or information in the form of electronic records.

Information Technology Act, 2000 Section 67C

Title: Preservation and Retention of Information by Intermediaries.

State: Central

Year: 2000

1[67C Preservation and retention of information by intermediaries.- (1) Intermediary shall preserve and retain such information as may be specified for such duration and in such manner and format as the Central Government may prescribe. (2) any intermediary who intentionally or knowingly contravenes the provisions of sub-section (1) shall be punished with an imprisonment for a term which may extend to three years and also be liable to fine.] __________________ 1. Inserted vide Information Technology (Amendment) Act, 2008.

Prevention of Money Laundering Act, 2002 Complete Act

State: Central

Year: 2002

.....provisionally attaches any property under sub -section (1) shall, within a period of thirty days from such attachment, file a complaint stating the facts of such attachment before the Adjudicating Authority. SECTION 06: ADJUDICATING AUTHORITIES, COMPOSITION, POWERS, ETC. (1) The Central Government shall, by notification, appoint one or more Adjudicating Authorities to exercise jurisdiction, powers and authority conferred by or under this Act. (2) An Adjudicating Authority shall consist of a Chairperson and two other Members: Provided that one Member each shall be a person having experience in the field of law, administration, finance or accountancy. (3) A person shall, however, not be qualified for appointment as Member of an Adjudicating Authority:- (a) in the field of law, unless he- (i) is qualified for appointment as District Judge; or (ii) has been a Member of the Indian Legal Service and has held a post in Grade I of that service, (b) in the field of finance, accountancy or administration unless he possesses such qualifications, as may be prescribed. (4) The Central Government shall appoint a Member to be the Chairperson of the Adjudicating Authority. (5) Subject to the.....

Prevention of Moneylaundering (Amendment) Act, 2012 Complete Act

State: Central

Year: 2012

.....of Section 23."In Section 23 of the principal Act, for the words and figure "under Section 8, it shall, unless otherwise proved to the satisfaction of the Adjudicating Authority", the words and figure "under Section 8 or for the trial of the money-laundering offence, it shall unless otherwise proved to the satisfaction of the Adjudicating Authority or the Special Court" shall be substituted. 19. Amendment of Section 24."For Section 24 of the principal Act, the following Section shall be substituted, namely" "24. Burden of proof."In any proceeding relating to proceeds of crime under this Act," (a) in the case of a person charged with the offence of money-laundering under Section 3, the Authority or Court shall, unless the contrary is proved, presume that such proceeds of crime are involved in money-laundering; and (b) in the case of any other person the Authority or Court, may presume that such proceeds of crime are involved in money-laundering.". 20. Amendment of Section 26."In Section 26 of the principal Act, in sub-section (2), for the words "banking company, financial institution or intermediary", the words "reporting entity" shall.....

Prevention of Money-laundering Act, 2002 Chapter V

Title: Summons, Searches and Seizures, Etc

State: Central

Year: 2002

.....been so executed or attested; (b) admit the document in evidence, notwithstanding that it is not duly stamped, if such document is otherwise admissible in evidence. Section 23 - Presumption in inter-connected transactions Where money-laundering involves two or more inter-connected transactions and one or more such transactions is or are proved to be involved in money-laundering, then for the purposes of adjudication or confiscation under section 8, it shall, unless otherwise proved to the satisfaction of the Adjudicating Authority, be presumed that the remaining transactions form part of such inter-connected transactions. Section 24 - Burden of proof When a person is accused of having committed the offence under section 3, the burden of proving that proceeds of crime are untainted property shall be on the accused.

Prevention of Money-laundering (Amendment) Act, 2012, (Central) Section 16

Title: Substitution of New Sections for Section 20 and Section 21

State: Central

Year: 2012

.....principal Act, the following sections shall be substituted, namely:-- "20. Retention of property.-- (1) Where any property has been seized under section 17 or section 18 or frozen under sub-section (1A) of section 17 and the officer authorised by the Director in this behalf has, on the basis of material in his possession, reason to believe (the reason for such belief to be recorded by him in writing) that such property is required to be retained for the purposes of adjudication under section 8, such property may, if seized, be retained or if frozen, may continue to remain frozen, for a period not exceeding one hundred and eighty days from the day on which such property was seized or frozen, as the case may be. (2) The officer authorised by the Director shall, immediately after he has passed an order for retention or continuation of freezing of the property for purposes of adjudication under section 8, forward a copy of the order along with the material in his possession, referred to in sub-section (1), to the Adjudicating Authority, in a sealed envelope, in the manner as may be prescribed and such Adjudicating Authority shall keep such order and material for such period as.....

Insurance Regulatory and Development Authority (General Insurancereinsurance) Regulations, 2000 Complete Act

State: Central

Year: 2000

.....Regulatory and Development Authority Act, 1999 (41 of 1999), rules made thereunder shall have the meanings respectively assigned to them in those Acts or rules as the case may be. CHAPTER 2 Regulation 3 Procedure to be followed for Re-insurance Arrangements (1) The Re-insurance Programme shall continue to be guided by the following objectives to:- (a) maximise retention within the country; (b) develop adequate capacity; (c) secure the best possible protection for the re-insurance costs incurred; (d) simplify the administration of business; (2) Every insurer shall maintain the maximum possible retention commensurate with its financial strength and volume of business. The Authority may require an insurer to justify its retention policy and may give such directions as considered necessary in order to ensure that the Indian insurer is not merely fronting for a foreign insurer. (3) Every insurer shall cede such percentage of the sum assured on each policy for different classes of insurance written in India to the Indian reinsurer as may be specified by the Authority in accordance with the provisions of Part IV-A of the Insurance Act, 1938. (4) The re-insurance programme of.....

Air Force Act, 1950 Complete Act

State: Central

Year: 1950

.....he - is ordered by land, sea or air, and that he will obey all commands of any officer set over him, even to the peril of his life. (3) The fact of an enrolled person having taken the oath or affirmation directed by this section to be taken shall be entered on his enrolment paper and authenticated by the signature of the officer administering the oath or affirmation. CHAPTER 04: CONDITIONS OF SERVICE SECTION 18: TENURE OF SERVICE UNDER THE ACT - Every person subject to this Act shall hold office during the pleasure of the President. SECTION 19: TERMINATION OF SERVICE BY CENTRAL GOVERNMENT - Subject to the provisions of this Act and the rules and regulations made thereunder, the Central Government may dismiss, or remove from the service any person subject to this Act. SECTION 20: DISMISSAL, REMOVAL OR REDUCTION BY CHIEF OF THE AIR STAFF AND OTHER OFFICERS - (1)9[The Chief of the Air Staff] may dismiss or remove from the service any person subject to this Act other than an officer. (2)9[The Chief of the Air Staff] may reduce to a lower grade or rank or the ranks, any warrant officer or any non-commissioned officer. (3) An officer having power not less than.....