Section 17 of the Prevention of Money Laundering Act, 2002 powers are exercised-
Section 17(1) applies where the officer has "reason to believe (the reason for such belief to be recorded in writing)" that a person has committed money-laundering or holds…
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Section 17 of the Prevention of Money Laundering Act, 2002 powers are exercised-
Answer and explanation
Correct answer B
Section 17(1) applies where the officer has "reason to believe (the reason for such belief to be recorded in writing)" that a person has committed money-laundering or holds proceeds, records or property related to crime. No prior order of the Adjudicating Authority is required.