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of <h1>Restoration Rules for Confiscated Property Under Money Laundering Act: Claimants Must File Within 30 Days, Extendable by 30 More.</h1> The Prevention of Money-laundering (Restoration of Confiscated Property) Rules, 2016, issued by the Ministry of Finance, outlines procedures for restoring confiscated property under the Prevention of Money-laundering Act, 2002. The rules define a 'claimant' as someone who has suffered a loss due to money laundering but is not involved in the crime. The Special Court is tasked with publishing notices for claimants to establish their claims within a specified period. If the confiscated property is insufficient, restoration may occur on a pro-rata basis. Claims must be submitted within 30 days, extendable by another 30 days under certain conditions. Interpretation issues are referred to the Central Government.
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