Explain what offences are cognizable and non-bailable under the Prevention of Money Laundering Act, 2002.
CS Professional · Resolution of Corporate Disputes, Non-Compliances & Remedies · PYQS · June 2021
Explain what offences are cognizable and non-bailable under the Prevention of Money Laundering Act, 2002.
Answer & Explanation:
Answer 3(d) Explanation to section 45 of the Prevention of Money Laundering Act, 2002 (PMLA) provides that for the removal of doubts, it is clarified that the expression "Offences to be cognizable and non-bailable" shall mean and shall be deemed to have always meant that all offences under PMLA shall be cognizable offences and non-bailable offences notwithstanding anything to the contrary contained in the Code of Criminal Procedure, 1973, and accordingly the officers authorised under PMLA are empowered to arrest an accused without warrant, subject to the fulfillment of conditions under section 19 of PMLA and subject to the conditions enshrined under this section.
Topics: Prevention of Money Laundering Act (PMLA)
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