Section 16 of the Prevention of Money Laundering Act, 2002 survey powers are exercised-
Section 16(1) requires the authority to have "reason to believe (the reasons for such belief to be recorded in writing) that an offence under section 3 has been committed".…
Choose your answer
Section 16 of the Prevention of Money Laundering Act, 2002 survey powers are exercised-
Answer and explanation
Correct answer C
Section 16(1) requires the authority to have "reason to believe (the reasons for such belief to be recorded in writing) that an offence under section 3 has been committed". It needs no court approval and does not wait for attachment under s.5.