Section 16 of the Prevention of Money Laundering Act, 2002 empowers the authority to require the…
Section 16(1) allows the authority to require the proprietor, an employee or any person attending to "afford him the necessary facility to inspect such records", to check or…
Choose your answer
Section 16 of the Prevention of Money Laundering Act, 2002 empowers the authority to require the proprietor or employee to-
Answer and explanation
Correct answer C
Section 16(1) allows the authority to require the proprietor, an employee or any person attending to "afford him the necessary facility to inspect such records", to check or verify proceeds of crime, and to furnish useful information. It gives no power to levy penalties or shut the business.