Prevention of Money-laundering (Forms, Search and Seizure or Freezing and the Manner of Forwarding the Reasons and Material to the Adjudicating Authority, impounding and Custody of Records and the Period of Retention) (Amendment) Rules 2013. - 11/2013 - Prevention of Money-Laundering
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Freezing orders added to money laundering rules, enabling property freezes where seizure is impracticable and updating procedures. The 2013 amendments add freezing to the 2005 Rules, redefine 'authority' as an officer subordinate to the Director authorized under the Act, and expand 'material' to include reports or complaints forwarded to Magistrates or submitted to senior officers. They permit freezing where seizure is impracticable, bar transfer of frozen property without prior permission, require service of the freezing order, amend forwarding procedures to the Adjudicating Authority to include freezing, and substitute updated Forms I and II to reflect authorisation, seizure and freezing documentation.
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Provisions expressly mentioned in the judgment/order text.
Freezing orders added to money laundering rules, enabling property freezes where seizure is impracticable and updating procedures.
The 2013 amendments add freezing to the 2005 Rules, redefine "authority" as an officer subordinate to the Director authorized under the Act, and expand "material" to include reports or complaints forwarded to Magistrates or submitted to senior officers. They permit freezing where seizure is impracticable, bar transfer of frozen property without prior permission, require service of the freezing order, amend forwarding procedures to the Adjudicating Authority to include freezing, and substitute updated Forms I and II to reflect authorisation, seizure and freezing documentation.
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