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of <h1>Section 33 of Prevention of Money-Laundering Act, 2002, removed by Finance Act, 2016, altering Chairperson vacancy protocol.</h1> Section 33 of the Prevention of Money-Laundering Act, 2002, previously outlined that in the event of a vacancy in the office of the Chairperson due to death, resignation, or other reasons, the senior-most Member would act as the Chairperson until a new Chairperson was appointed. Additionally, if the Chairperson was unable to perform their duties due to absence or illness, the senior-most Member would assume those responsibilities until the Chairperson could resume their duties. This section was omitted by the Finance Act, 2016, effective June 1, 2016.
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