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Prevention of Money-laundering (Receipt and Management of Confiscated Properties) Rules 2005

Money Laundering - GSR 443(E) - Dated:- 1-7-2005 - MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the dated 1-7-2005 GSR 443(E),- In exercise of the powers conferred by sub-section (1) read with clause (f) of sub-section (2) of section 73 of the Prevention of Money-laundering Act, 2002 (15 of 2003), the Central Government hereby makes the following rules for receipt and management of confiscated properties, namely :- Short title and commencement 1. (1) These rules may be cal .....

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ns prohibition of transfer, conversion, disposition or movement of property by an order issued under Chapter III of the Act; (e) Form means forms appended to these rules; (f) order means an order made by the Adjudicating Authority under sub-section (6) of section 8 of the Act; (g) section means a section of the Act. (2) All other words and expressions used and not defined in these rules but defined in the Act, shall have the meaning respectively assigned to them in the Act. Receipt of confiscate .....

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he proper maintenance and custody of the property at the place of attachment. (2) If the property confiscated consists of cash, Government or other securities, bullion, jewellery or other valuables, the Administrator shall cause to deposit them for safe custody in the nearest Government Treasury or a branch of the Reserve Bank of India or State Bank of India or its subsidiaries or of any authorized bank. (3) The Administrator shall maintain a register containing the details in Form I for recordi .....

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