Under Section 24(a) of the Prevention of Money Laundering Act, 2002, in the case of a person charged…
PMLA s.24(a) says that for a person charged under s.3 the Authority or Court "shall, unless the contrary is proved, presume" that the proceeds of crime are involved in…
Choose your answer
Under Section 24(a) of the Prevention of Money Laundering Act, 2002, in the case of a person charged under Section 3 of PMLA, the Authority or Court shall:
Answer and explanation
Correct answer B
PMLA s.24(a) says that for a person charged under s.3 the Authority or Court "shall, unless the contrary is proved, presume" that the proceeds of crime are involved in money-laundering. The discretionary "may presume" is clause (b), which applies to any other person.