Under section 20 of the Prevention of Money-laundering Act, 2002, the officer authorised by the…
Under s.20(3) the property must be returned after 180 days "unless the Adjudicating Authority permits retention or continuation of freezing", and s.20(4) requires it first…
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Under section 20 of the Prevention of Money-laundering Act, 2002, the officer authorised by the Director can continue freezing property beyond 180 days only if-
Answer and explanation
Correct answer C
Under s.20(3) the property must be returned after 180 days "unless the Adjudicating Authority permits retention or continuation of freezing", and s.20(4) requires it first to be satisfied that the property "is prima facie involved in money-laundering" and is needed for adjudication under s.8. The owner's wish or the type of property is irrelevant.