TMI BlogAmendements to Act 15 of 2003.X X X X Extracts X X X X X X X X Extracts X X X X ..... eding thirty days from the date of order of vacation of such stay order shall be counted. ; ( ii ) in sub-section ( 3 ), for the word, brackets and figure sub-section ( 2 ) , the word, brackets and figure sub-section ( 3 ) shall be substituted; ( c ) in section 8, ( i ) in sub-section ( 3 ), in clause ( a ), after the words continue during , the words investigation for a period not exceeding ninety days or shall be inserted; ( ii ) in sub-section ( 8 ), after the proviso, the following proviso shall be inserted, namely:- Provided further that the Special Court may, if it thinks fit, consider the claim of the claimant for the purposes of restoration of such properties during the trial of the case in such manner as m ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... PARAGRAPH 29 OFFENCE UNDER THE COMPANIES ACT, 2013 (18 of 2013) Section Description of offence 447 Punishment for fraud. . - 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 purposes of computing the period of one hundred and eighty days, the period during which the proceeding under the aforesaid s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 50 of the Act relating to powers of authorities regarding summons, production of documents and to give evidence, etc. It is further provided to amend proviso to sub-section ( 5 ) of section 50 of the Act by inserting the word Joint before the word Director . ( vii ) to amend section 66 of the Act relating to disclosure of information. Further, sub-clause ( ii ) seeks to 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 Ac ..... X X X X Extracts X X X X X X X X Extracts X X X X
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