Money laundering definitions clarify attachment and frozen property treatment under procedural rules for adjudication regime. Terminology for the procedural regime: the Act is the Prevention of Money laundering Act, 2002; the Adjudicating Authority, Authorized Officer, and Form ... Summary
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Money laundering definitions clarify attachment and frozen property treatment under procedural rules for adjudication regime.
Terminology for the procedural regime: the Act is the Prevention of Money laundering Act, 2002; the Adjudicating Authority, Authorized Officer, and Form are defined; unspecified terms take their statutory meanings. Attachment is the prohibition on transfer, conversion, disposition or movement of property by order under the Act; frozen denotes a record or property restrained under the Act; and order refers to orders by the Adjudicating Authority under the Act.
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