PART II
AMENDMENT TO THE PREVENTION OF MONEY-LAUNDERING ACT, 2002
Amendment of section 8 of Act 15 of 2003.
22. In section 8 of the Prevention of Money-laundering Act, 2002, in sub-section (3), with effect from such date as the Central Government may, by notification in the Official Gazette, appoint,––
(i) in clause (a), for the words “ninety days”, the words “three hundred and sixty-five days” shall be substituted;
(ii) after clause (b), the following Explanation shall be inserted, namely:––
“Explanation.––For the purposes of computing the period of three hundred and sixty-five days under clause (a), the period during which the investigation is stayed by any court under any law for the time being in force shall be excluded.”.
