TMI BlogCommencement of this Part.X X X X Extracts X X X X X X X X Extracts X X X X ..... point. - Clauses 204 and 205 of the Bill seeks to amend certain provisions of the Prevention of Money-laundering Act, 2002, which include the following, namely:- ( i ) to amend the definition proceeds of crime so as to allow to proceed against property equivalent to proceeds to crime held outside the country. ( ii ) to insert an Explanation to section 5 of the said Act for the pur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bail application is required to be heard by Special Court. ( v ) to amend section 45 of the Act relating to offences to be cognizable and non-bailable and to amend sub-section ( 1 ) of section 45 to substitute the words punishable for a term of imprisonment of more than three years under Part A of the Schedule by the words under this Act so as to take a step further towards delinking the Sc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o insert sub-section ( 2 ) in section 66 that on the basis of material in his possession, if the authority suspects the contravention of any other law then the authority shall share the information with the concerned agency and the agency shall act on that information forthwith , so as to give clear guidance to the officials. ( viii ) to amend the Schedule to the Act to insert section 447 of t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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