Proceeds of crime broadened to include property indirectly derived from criminal activity; registration inspectors added to notified persons. Amendments to section 2 of the Prevention of Money laundering Act remove the reference to 'sub broker', substitute a notified Inspector General of Registration among specified persons, and insert an Explanation clarifying that proceeds of crime include property directly or indirectly derived or obtained as a result of criminal activity relatable to a scheduled offence.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Proceeds of crime broadened to include property indirectly derived from criminal activity; registration inspectors added to notified persons.
Amendments to section 2 of the Prevention of Money laundering Act remove the reference to "sub broker", substitute a notified Inspector General of Registration among specified persons, and insert an Explanation clarifying that proceeds of crime include property directly or indirectly derived or obtained as a result of criminal activity relatable to a scheduled offence.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
