Interim stay under money laundering law covers attachment confirmation proceedings and pauses the 180-day statutory clock.

The interim restraint against further proceedings pursuant to a provisional attachment order was clarified to extend to confirmation proceedings under section 8 of the Prevention of Money Laundering Act, 2002, while leaving the attachment itself in force. The period during which the stay operated was directed to be excluded from the statutory 180-day period under section 5(1). The clarification application was disposed of accordingly.

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Issues: Scope of the interim stay operating against further proceedings pursuant to the provisional attachment order, and whether the period of stay was to be excluded for the purpose of the 180-day limit under section 5(1) of the Prevention of Money Laundering Act, 2002.

Analysis: The clarification made it explicit that the earlier restraint covered all further proceedings pursuant to the provisional attachment order, including proceedings under section 8 of the Prevention of Money Laundering Act, 2002 for confirmation of the attachment. At the same time, it preserved the subsistence of the attachment itself and clarified that the period during which the interim stay operated would not count towards the statutory 180-day period under section 5(1).

Outcome: The interim order was clarified accordingly, the attachment continued, and the clarification application was disposed of.

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