When a property is confiscated under Chapter III of the Prevention of Money Laundering Act, 2002, which…
Section 10 authorises the Central Government to appoint an Administrator by an order published in the Official Gazette. The appointed officer must meet the prescribed rank…
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When a property is confiscated under Chapter III of the Prevention of Money Laundering Act, 2002, which one of the following is NOT correct regarding the powers of management of such property?
Answer and explanation
Correct answer C
Section 10 authorises the Central Government to appoint an Administrator by an order published in the Official Gazette. The appointed officer must meet the prescribed rank requirement and receives and manages the confiscated property. The Act does not confer this appointment power on the Director.
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