The second proviso to Section 5(1) of the Prevention of Money Laundering Act, 2002 permits attachment…
The second proviso to section 5(1) allows attachment without the report or complaint needed under the first proviso where the officer believes that, if the property "is not…
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The second proviso to Section 5(1) of the Prevention of Money Laundering Act, 2002 permits attachment even without fulfilling the first proviso when-
Answer and explanation
Correct answer D
The second proviso to section 5(1) allows attachment without the report or complaint needed under the first proviso where the officer believes that, if the property "is not attached immediately", non-attachment "is likely to frustrate any proceeding under this Act". The value of the property, its movable nature or the owner's nationality is not the test.