Section 15 of the Prevention of Money Laundering Act, 2002 is significant because-
Section 15 provides the legal basis for a prescribed procedure for maintaining and furnishing information to the Director under ss.11A, 12(1) and 12AA(1). Penalties remain…
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Section 15 of the Prevention of Money Laundering Act, 2002 is significant because-
Answer and explanation
Correct answer B
Section 15 provides the legal basis for a prescribed procedure for maintaining and furnishing information to the Director under ss.11A, 12(1) and 12AA(1). Penalties remain under s.13, and confiscation and prosecution are dealt with elsewhere.