Under the Prevention of Money-laundering Act, 2002, "transfer" includes:
Section 2(1)(za) says "transfer" includes "sale, purchase, mortgage, pledge, gift, loan or any other form of transfer of right, title, possession or lien". Gifts, loans and…
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Under the Prevention of Money-laundering Act, 2002, "transfer" includes:
Answer and explanation
Correct answer A
Section 2(1)(za) says "transfer" includes "sale, purchase, mortgage, pledge, gift, loan or any other form of transfer of right, title, possession or lien". Gifts, loans and pledges are all covered alongside sales.