Under the Prevention of Money-laundering Act, 2002, if taking possession of frozen property is not…
The proviso to section 8(4) says that if it is not practicable to take possession of property frozen under section 17(1A), "the order of confiscation shall have the same…
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Under the Prevention of Money-laundering Act, 2002, if taking possession of frozen property is not practicable-
Answer and explanation
Correct answer D
The proviso to section 8(4) says that if it is not practicable to take possession of property frozen under section 17(1A), "the order of confiscation shall have the same effect as if the property had been taken possession of". The freezing does not lapse, the property is not released and no fresh notice is needed.