Under Section 5(1) of the Prevention of Money Laundering Act, 2002, who is competent to order…
Section 5(1) gives the power to "the Director or any other officer not below the rank of Deputy Director authorised by the Director". An Assistant Director cannot order…
Choose your answer
Under Section 5(1) of the Prevention of Money Laundering Act, 2002, who is competent to order provisional attachment of property?
Answer and explanation
Correct answer C
Section 5(1) gives the power to "the Director or any other officer not below the rank of Deputy Director authorised by the Director". An Assistant Director cannot order attachment, no Magistrate is involved, and the Adjudicating Authority only confirms an attachment later under section 8(3).