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2017 (3) TMI 1766 - HC - Money LaunderingPenal provisions applicability prospective or retrospective - offence under Section 3 of PMLA - enactment shows it was passed in the year 2002 as Act No.15/2003 and came into force with effect from 01.07.2005 pursuant to the Central Government notification No.GSR/436(E) of that date as per Section 1(3) of the PML Act - HELD THAT:- There is nothing to indicate retrospective in operation specifically that too by virtue of Article 12 of the Constitution of India, it cannot be retrospective in operation. Once the provisions of the Act not given effect as on the date of the alleged act and it is not specific mention of retrospective in operation, there is no penal consequence under Section 3 of the Act to sustain charge against the petitioner/A.2 thereunder. Having regard to the above, the discharge application filed of the petitioner/A.2 ought to have been allowed by the Court below rather than dismissal by impugned order dated 26.10.2016. While setting aside the dismissal of the discharge application of the petitioner/A.2, the revision is allowed and A.2 is discharged for the offence under Section 3 of the Act and his bail bonds stands cancelled unless he is required for any other offence thereto.
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