Under the second proviso to section 8(1) of the Prevention of Money-laundering Act, 2002, where…
The second proviso to section 8(1) says "where such property is held jointly by more than one person, such notice shall be served to all persons holding such property".…
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Under the second proviso to section 8(1) of the Prevention of Money-laundering Act, 2002, where property is held jointly by more than one person, notice shall be served-
Answer and explanation
Correct answer C
The second proviso to section 8(1) says "where such property is held jointly by more than one person, such notice shall be served to all persons holding such property". Service on the first-named or accused holder alone, or on holders chosen by the Authority, is not enough.