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

PREVENTION OF MONEY LAUNDERING ACT, 2002 PREVENTION OF MONEY LAUNDERING ACT, 2002 An Act to prevent money-laundering and to provide for confiscation of property derived from, or involved in, money-laundering and for matters connected therewith or incidental thereto. BE it enacted by Parliament in the Fifty-third Year of the Republic of India as follows:- CHAPTER 01 PRELIMINARY SECTION 01: SHORT TITLE, EXTENT AND COMMENCEMENT (1) This Act may be called the Prevention of Money Laundering Act, 2002. (2) It extends to the whole of India. (3) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint, and different dates may be appointed for different provisions of this Act and any reference in any such provision to the commencement of this Act shall be construed as a reference to the coming into force of that provision. SECTION 02: DEFINITIONS (1) In this Act, unless the context otherwise requires, - (a) "Adjudicating Authority" means an Adjudicating Authority appointed under sub -section (1) of section 6 -; (b) "Appellate Tribunal" means the Appellate Tribunal established under section 25-; (c) "Assistant.....

Prevention of Moneylaundering (Amendment) Act, 2012 Complete Act

State: Central

Year: 2012

..... (ii) after Clause (h), the following Clause shall be inserted, namely" ˜(ha) "client" means a person who is engaged in a financial transaction or activity with a reporting entity and includes a person on whose behalf the person who engaged in the transaction or activity, is acting;'; (iii) after Clause (i), the following Clauses shall be inserted, namely" ˜(ia) "corresponding law" means any law of any foreign country corresponding to any of the provisions of this Act or dealing with offences in that country corresponding to any of the scheduled offences; (ib) "dealer" has the same meaning as assigned to it in Clause (b) of Section 2 of the Central Sales Tax Act, 1956 (74 of 1956);'; (iv) Clause (ja) shall be omitted; (v) for Clause (l), the following Clause shall be substituted, namely" ˜(l) "financial institution" means a financial institution as defined in Clause (c) of Section 45-I of the Reserve Bank of India Act, 1934 (2 of 1934) and includes a chit fund company, a housing finance institution, an authorised person, a payment system operator, a non-banking financial company and the Department of Posts in the Government of India;'; (vi).....

Prevention of Money-laundering Act, 2002 Chapter V

Title: Summons, Searches and Seizures, Etc

State: Central

Year: 2002

.....by him, and (iii) record the statement of any person present in the place which may be useful for, or relevant to, any proceeding under this Act. Section 17 - Search and seizure (1) Where 1[the Director or any other officer not below the rank of Deputy Director authorised by him for the purposes of this section], on the basis of information in his possession, has reason to believe (the reason for such belief to be recorded in writing) that any person--- (i) has committed any act which constitutes money-laundering, or (ii) is in possession of any proceeds of crime involved in money-laundering, or (iii) is in possession of any records relating to money-laundering, then, subject to the rules made in this behalf, he may authorise any officer subordinate to him to-- (a) enter and search any building, place, vessel, vehicle or aircraft where he has reason to suspect that such records or proceeds of crime are kept; (b) break open the lock of any door, box, locker, safe, almirah or other receptacle for exercising the powers conferred by clause (a) where the keys thereof are not available; (c) seize any record or property found as a result of such search; (d).....

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

.....or confinement of a person according to the usages of the service and includes military or naval custody: (vi) "air force law" means the law enacted by this Act and the rules made there under and includes the usages of the service; (vii) "air force reward" includes any gratuity or annuity for long service or good conduct, badge pay or pension, and any other air force pecuniary reward; (viii) "airman" means any person subject to this Act other than an officer; (ix) "air officer" means any officer of the Air Force above the rank of group captain; (x) "air signal" means any signal intended for the guidance of aircraft, whether given by flag, ground signal, light, wind indicator or in any manner whatsoever: (xi) "Chief Legal Adviser" means a person appointed as such by5[the Chief of the Air Staff] to give advice on matters relating to air force law and to perform such other duties of a legal character as may arise in connection therewith; (xii) "civil offence" means an offence which is triable by a criminal court; (xiii) "civil prison" means any jail or place used for the detention of any criminal prisoner under the Prisons Act, 1894-, or under any other law for the time.....