Under the Prevention of Money-laundering Act, 2002, on deciding that property is involved in…
Section 8(3) says that where the Adjudicating Authority decides property is involved in money-laundering, "it shall, by an order in writing, confirm the attachment of the…
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Under the Prevention of Money-laundering Act, 2002, on deciding that property is involved in money-laundering, the Adjudicating Authority shall-
Answer and explanation
Correct answer D
Section 8(3) says that where the Adjudicating Authority decides property is involved in money-laundering, "it shall, by an order in writing, confirm the attachment of the property" made under section 5(1), or the retention or freezing of property seized or frozen under section 17 or 18. Release follows only where the finding goes the other way, and the Authority neither fines the owner nor refers the case to the police.