Under section 8(1) of the Prevention of Money-laundering Act, 2002, if property is held by a person on…
The first proviso to section 8(1) requires that where the notice specifies property as being held by a person on behalf of another, a copy of the notice shall also be served…
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Under section 8(1) of the Prevention of Money-laundering Act, 2002, if property is held by a person on behalf of another, the notice shall also be served on-
Answer and explanation
Correct answer C
The first proviso to section 8(1) requires that where the notice specifies property as being held by a person on behalf of another, a copy of the notice shall also be served on such other person, not on the Director, the Chairperson, or the investigating officer.