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2017 (4) TMI 305 - AT - Money LaunderingPrevention of Money Laundering - praying the appeal filed by the appellant may be posted before a Bench comprising of the Hon’ble Chairperson/Legal Member - Held that:- The application relies on certain provisions of the PMLA namely 27, 28, and 33 which have been repealed by the Finance Act of 2016 (28 of 2016) with effect from 1-6-2016. The application is therefore, infructuous and is liable to be dismissed as such. It is also noted that by virtue of Section 25 of the PMLA as amended by the Finance Act, 2016 (28 of 2016) it is provided that the Appellate Tribunal constituted under Section 12 of SAFEMA shall be the Appellate Tribunal under the PMLA. With regard to the composition of Benches of the Appellate Tribunal, sub-section (6A) of Section 12 of SAFEMA as amended by the Finance Act, 2016 (28 of 2016) specifically provides for constitution of single Member or two Member Benches and for such Benches to exercise the powers and functions of the Appellate Tribunal. It is well settled that the Appellate Tribunal being a creation of the statute is bound to act in accordance with the provisions of the said statute. The application is therefore, without any merit also.
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