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The Prevention of Money-Laundering Act, 2002

Central

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.

Act number
15 of 2003
Ministry
Ministry of Finance
Department
Department of Revenue
Enacted
17 Jan 2003

Source: IndiaCode Portal, Legislative Department, Ministry of Law and Justice, Government of India. Open on India Code Check against the official text before relying on it.

81 sections

  1. Section 1Short title, extent and commencement.
  2. Section 2Definitions.
  3. Section 3Offence of money-laundering.
  4. Section 4Punishment for money-laundering.
  5. Section 5Attachment of property involved in money-laundering.
  6. Section 6Adjudicating Authorities, composition, powers, etc.
  7. Section 7Staff of Adjudicating Authorities.
  8. Section 8Adjudication.
  9. Section 9Vesting of property in Central Government.
  10. Section 10Management of properties confiscated under this Chapter.
  11. Section 11Power regarding summons, production of documents and evidence, etc.
  12. Section 11AVerification of Identity by Reporting Entity.
  13. Section 12Reporting entity to maintain records.
  14. Section 12AAccess to information.
  15. Section 12AAEnhanced due diligence
  16. Section 13Powers of Director to impose fine.
  17. Section 14No civil or criminal proceedings against reporting entity, its directors and employees in certain cases.
  18. Section 15Procedure and manner of furnishing information by reporting entities.
  19. Section 16Power of survey.
  20. Section 17Search and seizure.
  21. Section 18Search of persons.
  22. Section 19Power to arrest.
  23. Section 20Retention of property.
  24. Section 21Retention of records.
  25. Section 22Presumption as to records or property in certain cases.
  26. Section 23Presumption in inter-connected transactions.
  27. Section 24Burden of proof.
  28. Section 25Appellate Tribunal.
  29. Section 26Appeal to Appellate Tribunal.
  30. Section 27[Omitted.].
  31. Section 28[Omitted.].
  32. Section 29[Omitted.].
  33. Section 30[Omitted.].
  34. Section 31[Omitted.].
  35. Section 32[Omitted.].
  36. Section 33[Omitted.].
  37. Section 34[Omitted.].
  38. Section 35Procedure and powers of Appellate Tribunal.
  39. Section 36Distribution of business amongst Benches.
  40. Section 37Power of Chairperson to transfer cases.
  41. Section 38Decision to be by majority.
  42. Section 39Right of appellant to take assistance of authorised representative and of Government to appoint presenting officers.
  43. Section 40Members, etc., to be public servants.
  44. Section 41Civil court not to have jurisdiction.
  45. Section 42Appeal to High Court.
  46. Section 43Special Courts.
  47. Section 44Offences triable by Special Courts.
  48. Section 45Offences to be cognizable and non-bailable.
  49. Section 46Application of Code of Criminal Procedure, 1973 to proceedings before Special Court.
  50. Section 47Appeal and revision.
  51. Section 48Authorities under Act.
  52. Section 49Appointment and powers of authorities and other officers.
  53. Section 50Powers of authorities regarding summons, production of documents and to give evidence, etc.
  54. Section 51Jurisdiction of authorities.
  55. Section 52Power of Central Government to issue directions, etc.
  56. Section 53Empowerment of certain officers.
  57. Section 54Certain officers to assist in inquiry etc.
  58. Section 55Definitions.
  59. Section 56Agreements with foreign countries.
  60. Section 57Letter of request to a contracting State in certain cases.
  61. Section 58Assistance to a contracting State in certain cases.
  62. Section 58ASpecial Court to release the property.
  63. Section 58BLetter of request of a contracting State or authority for confiscation or release the property.
  64. Section 59Reciprocal arrangements for processes and assistance for transfer of accused persons.
  65. Section 60Attachment, seizure and confiscation, etc., of property in a contracting State or India.
  66. Section 61Procedure in respect of letter of request.
  67. Section 62Punishment for vexatious search.
  68. Section 63Punishment for false information or failure to give information, etc.
  69. Section 64Cognizance of offences.
  70. Section 65Code of Criminal Procedure, 1973 to apply.
  71. Section 66Disclosure of information.
  72. Section 67Bar of suits in civil courts.
  73. Section 68Notice, etc., not to be invalid on certain grounds.
  74. Section 69Recovery of fine or penalty.
  75. Section 70Offences by companies.
  76. Section 71Act to have overriding effect.
  77. Section 72Continuation of proceedings in the event of death or insolvency.
  78. Section 72AInter-ministerial Co-ordination Committee.
  79. Section 73Power to make rules.
  80. Section 74Rules to be laid before Parliament.
  81. Section 75Power to remove difficulties.