Chapter 1 - Preliminary (Sec. 1-2)

Section 1 - Short title, extent and commencement
Section 2 - Definitions

Chapter 2 - Offence Of Money-Laundering (Sec. 3-4)

Section 3 - Offence of money-laundering
Section 4 - Punishment for money-laundering

Chapter 3 - Attachment, Adjudication And Confiscation (Sec. 5-11)

Section 5 - Attachment of property involved in money-laundering
Section 6 - Adjudicating Authorities, composition, powers, etc
Section 7 - Staff of Adjudicating Authorities
Section 8 - Adjudication
Section 9 - Vesting of property in Central Government
Section 10 - Management of properties confiscated under this Chapter
Section 11 - Power regarding summons, production of documents and evidence, etc
Section 11 A - Verification of Identity by Reporting Entity

Chapter 4 - Obligations Of Banking Companies, Financial Institutions And Intermediaries (Sec. 12-15)

Section 12 - Reporting entity to maintain records
Section 12-A - Access to information
Section 12 AA - Enhanced due diligence
Section 13 - Powers of Director to impose fine
Section 14 - No civil or criminal proceedings against reporting entity, Its directors and employees in certain cases
Section 15 - Procedure and manner of furnishing information by reporting entities

Chapter 5 - Summons, Searches And Seizures, Etc. (Sec. 16-24)

Section 16 - Power of survey
Section 17 - Search and seizure
Section 18 - Search of persons
Section 19 - Power to arrest
Section 20 - Retention of property
Section 21 - Retention of records
Section 22 - Presumption as to records or property in certain cases
Section 23 - Presumption in inter-connected transactions
Section 24 - Burden of proof

Chapter 6 - Appellate Tribunal (Sec. 25-42)

Section 25 - Establishment of Appellate Tribunal
Section 26 - Appeals to Appellate Tribunal
Section 27 - Composition, etc., of Appellate Tribunal [Omitted.].
Section 28 - Qualifications for appointment [Omitted.].
Section 29 - Term of office [Omitted.].
Section 30 - Conditions of service [Omitted.].
Section 31 - Vacancies [Omitted.].
Section 32 - Resignation and removal [Omitted.].
Section 33 - Member to act as Chairperson in certain circumstances [Omitted.].
Section 34 - Staff of Appellate Tribunal [Omitted.].
Section 35 - Procedure and powers of Appellate Tribunal
Section 36 - Distribution of business amongst Benches
Section 37 - Power of Chairperson to transfer cases
Section 38 - Decision to be by majority
Section 39 - Right of appellant to take assistance of authorised representative and of Government to appoint presenting officers
Section 40 - Members, etc., to be public servants
Section 41 - Civil Court not to have jurisdiction
Section 42 - Appeal to High Court

Chapter 7 - Special Courts (Sec. 43-47)

Section 43 - Special Courts
Section 44 - Offences triable by Special Courts
Section 45 - Offences to be cognisable and non-bailable
Section 46 - Application of the Code of Criminal Procedure, 1973 to proceedings before Special Court
Section 47 - Appeal and revision

Chapter 8 - Authorities (Sec. 48-54)

Section 48 - Authorities under the Act
Section 49 - Appointment and powers of authorities and other officers
Section 50 - Powers of authorities regarding summons, production of documents and to give evidence, etc
Section 51 - Jurisdiction of authorities
Section 52 - Power of Central Government to issue directions, etc
Section 53 - Empowerment of certain officers
Section 54 - Certain officers to assist in inquiry etc

Chapter 9 - Reciprocal arrangement for assistance in certain matters and procedure for attachment and confiscation of property. (Sec. 55-61)

Section 55 - Definitions
Section 56 - Agreements with foreign countries
Section 57 - Letter of request to a contracting State in certain cases
Section 58 - Assistance to a contracting State in certain cases
Section 58-A - Special Court to release the property
Section 58-B - Letter of request of a contracting State or authority for confiscation or release the property
Section 59 - Reciprocal arrangements for processes and assistance for transfer of accused persons
Section 60 - Attachment, seizure and confiscation, etc., of property in a contracting State or India
Section 61 - Procedure in respect of letter of request

Chapter 10 - Miscellaneous (Sec. 62-75)

Section 62 - Punishment for vexatious search
Section 63 - Punishment for false information or failure to give information, etc
Section 64 - Cognizance of offences
Section 65 - Code of Criminal Procedure, 1973 to apply
Section 66 - Disclosure of information
Section 67 - Bar of suits in civil Courts
Section 68 - Notice, etc., not to be invalid on certain grounds
Section 69 - Recovery of fine or penalty
Section 70 - Offences by companies
Section 71 - Act to have overriding effect
Section 72 - Continuation of proceedings in the event of death or insolvency
Section - 72A - Inter-ministerial Co-ordination Committee
Section 73 - Power to make rules
Section 74 - Rules to be laid before Parliament
Section 75 - Power to remove difficulties

Schedule

Schedule - 1

The Prevention of Money-Laundering Act, 2002

(15 of 2003)

157

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 .

Whereas the Political Declaration and Global Programme of Action, annexed to the resolution S-17/2 was adopted by the General Assembly of the United Nations at its seventeenth special session on the twenty-third day of February, 1990;

And whereas the Political Declaration adopted by the Special Session of the United Nations General Assembly held on 8th to 10th June, 1998 calls upon the Member States to adopt national money-laundering legislation and programme;

And whereas it is considered necessary to implement the aforesaid resolution and the Declaration;

Be it enacted by Parliament in the Fifty-third Year of the Republic of India as follows:

LEGISLATIVE HISTORY 6

· Prevention of Money-Laundering (Amendment) Act, 2005 (20 of 2005)

· Prevention of Money-Laundering (Amendment) Act, 2009 (21 of 2009)

· Prevention of Money-Laundering (Amendment) Act, 2012 (2 OF 2013)

· Amended by Act 2 of 2013, dated 15.2.2013

· Prevention of Corruption (Amendment) Act, 2018 (16 of 2018), dated 26.7.2018

FACT SHEET 6

· Received the assent of the President on 17.1.2003 and published in the Gazette of India, Ext., Pt.II, Section 1, dated 20.1.2003, pp. 1.29, No.16.

· Enforced on 1.7.2005.