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Home Acts & Rules Bill Bills FINANCE BILL, 2020 Chapters List Part II AMENDMENT TO THE PROHIBITION OF BENAMI PROPERTY TRANSACTIONS ACT, 1988 This
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Clause 143 - Amendment of Act 45 of 1988. - FINANCE BILL, 2020

FINANCE BILL, 2020
Part II
AMENDMENT TO THE PROHIBITION OF BENAMI PROPERTY TRANSACTIONS ACT, 1988
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PART II

AMENDMENT TO THE PROHIBITION OF BENAMI PROPERTY TRANSACTIONS ACT, 1988

Amendment of Act 45 of 1988.

143. In the Prohibition of Benami Property Transactions Act, 1988, in section 9, in sub-section (1), for clause (b), the following clause shall be substituted with effect from the 1st day of April, 2020, namely:––

“(b)(i) has been a member of the Indian Legal Service and has held the post of Joint Secretary or equivalent post in that Service; or

(ii) is qualified for appointment as District Judge.”.

 



 

Notes on Clauses:

Clause 143 of the Bill seeks to amend section 9 of the Prohibition of Benami Property Transactions Act, 1988 relating to qualifications for appointment of Chairperson and Members.

Sub-section (1) of the said section provides that a person shall not be qualified for appointment as the Chairperson or a Member of the Adjudicating Authority unless he has been a member of the Indian Revenue Service and has held the post of Commissioner of Income-tax or equivalent post in that Service; or has been a member of the Indian Legal Service and has held the post of Joint Secretary or equivalent post in that Service.

It is proposed to substitute clause (b) in the said sub-section so as to provide that a person who is qualified for appointment as District Judge shall also be eligible for the appointment as Chairperson or Member of the Adjudicating Authority under the said Act.

This amendment shall take effect from 1st April, 2020.

 
 
 
 
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