Under section 24 of the Prevention of Money-laundering Act, 2002, which of the following statements is…
Under PMLA s.24(a) the Authority or Court shall presume proceeds of crime are involved unless the accused proves otherwise, a rebuttable presumption, while s.24(b) only says…
Choose your answer
Under section 24 of the Prevention of Money-laundering Act, 2002, which of the following statements is correct?
Answer and explanation
Correct answer A
Under PMLA s.24(a) the Authority or Court shall presume proceeds of crime are involved unless the accused proves otherwise, a rebuttable presumption, while s.24(b) only says it may presume this for other persons, making that one discretionary.