Amendment of section 21 .
175. In section 21 of the Money-laundering Act,--
(i) in sub-section (5), for the words, brackets and figures “under sub-section (5) or sub-section (7) of section 8”, the words, brackets, figures and letters “or release under sub-section (5) or subsection
(6) or sub-section (7) of section 8 or section 58B or sub-section (2A) of section 60” shall be substituted;
(ii) in sub-section (6), --
(a) for the words, brackets, figures and letters “under sub-section (6) of section 8 or by the Adjudicating Authority under section 58B or sub-section (2A) of section 60”, the words, brackets and figures “Adjudicating Authority under sub-section (5) of section 21” shall be substituted;
(b) after the words “ninety days from the date of”, the words “receipt of” shall be inserted.
Notes on Clauses:
Clause 175 of the Bill seeks to amend section 21 of the 2002 Act. Sub-section (5) of section 21 deals with the order of confiscation under sub-section (5) or sub section (7) of section 8, but does not deal with cases where the order of release is made by the Special Court under sub-section (6) of section 8 or under section 58B or order of confiscation under sub-section (2A) of section 60. Thus, sub-clause (i) seeks to substitute “or release under sub-section (5) or sub-section (6) or sub-section (7) of section 8 or section 58B or sub-section (2A) of section 60” for “under sub-section (5) or sub-section (7) of section 8”. Sub-clause (ii) seeks to substitute the words “Adjudicating Authority” with the word “Court” and seeks to insert the expression “receipt of” in sub-section (6) to clearly specify the date from which period of 90 days for which Enforcement Directorate can withhold release of property or record under section 21 shall be counted.
