Attachment of property during PMLA investigation to be 365 day instead of 90 days from 20.03.2019 Notification
MINISTRY OF FINANCE
(Department of Revenue)
Notification No. 1/2019
New Delhi, the 19th March, 2019
G.S.R. 225(E).—In exercise of the powers conferred by section 22 of the Finance Act, 2019 (7 of 2019), the Central Government hereby appoints the 20th day of March, 2019, as the date on which the provisions of section 22 in Part II, of the said Act shall come into force.
[F.No.P-13011/1/2017-ES Cell-DOR]
BIPLAB KUMAR NASKAR, Under Secy.
Author’s Note:
Clause 22 of the Finance Act 2019 amended sub-section (3) of section 8 of the Prevention of Money-laundering Act, 2002 so as to extend the time limit of ninety days for which the attachment shall remain valid during the period of investigation to three hundred and sixty-five days and also to provide that in computing the period of three hundred and sixty-five days, the period during which the investigation is stayed by any court shall be excluded.
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