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Government has made certain amendments in the Prevention of Money-laundering Act, 2002 (PMLA) through Finance Act 2018 in order to enhance its effectiveness and widen its scope. In this amendment which section was included as scheduled offence under PMLA?
  • a)
    Section 247 of Companies Act dealing with ‘money-laundering’
  • b)
    Section 347 of Companies Act dealing with ‘property’
  • c)
    Section 447 of Companies Act dealing with ‘crime’
  • d)
    Section 467 of Companies Act dealing with ‘offence’
  • e)
    Section 447 of Companies Act dealing with ‘fraud’
Correct answer is option 'E'. Can you explain this answer?
Verified Answer
Government has made certain amendments in the Prevention of Money-laun...
Government has made following amendments in the Prevention of Money-laundering Act, 2002 (PMLA) through Finance Act 2018 in order to enhance its effectiveness and widen its scope. Definition of “proceeds of crime” has been amended to include “property equivalent held outside the country. Applicability of bail conditions has been made uniform to all the offences under PMLA. Section 447 of Companies Act dealing with ‘fraud’ is being included as scheduled offence under PMLA. 90 days more time has been given for investigation to Enforcement Directorate, before prosecution is filed. New sub-section is being introduced to provide clear guidelines to share the information relating to contraventions of other laws noticed during investigation. Special Court has been permitted to consider the claims of the claimants for the purposes of restoration of confiscated properties even during trial.
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Government has made certain amendments in the Prevention of Money-laundering Act, 2002 (PMLA) through Finance Act 2018 in order to enhance its effectiveness and widen its scope. In this amendment which section was included as scheduled offence under PMLA?a)Section 247 of Companies Act dealing with ‘money-laundering’b)Section 347 of Companies Act dealing with ‘property’c)Section 447 of Companies Act dealing with ‘crime’d)Section 467 of Companies Act dealing with ‘offence’e)Section 447 of Companies Act dealing with ‘fraud’Correct answer is option 'E'. Can you explain this answer?
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Government has made certain amendments in the Prevention of Money-laundering Act, 2002 (PMLA) through Finance Act 2018 in order to enhance its effectiveness and widen its scope. In this amendment which section was included as scheduled offence under PMLA?a)Section 247 of Companies Act dealing with ‘money-laundering’b)Section 347 of Companies Act dealing with ‘property’c)Section 447 of Companies Act dealing with ‘crime’d)Section 467 of Companies Act dealing with ‘offence’e)Section 447 of Companies Act dealing with ‘fraud’Correct answer is option 'E'. Can you explain this answer? for Current Affairs 2024 is part of Current Affairs preparation. The Question and answers have been prepared according to the Current Affairs exam syllabus. Information about Government has made certain amendments in the Prevention of Money-laundering Act, 2002 (PMLA) through Finance Act 2018 in order to enhance its effectiveness and widen its scope. In this amendment which section was included as scheduled offence under PMLA?a)Section 247 of Companies Act dealing with ‘money-laundering’b)Section 347 of Companies Act dealing with ‘property’c)Section 447 of Companies Act dealing with ‘crime’d)Section 467 of Companies Act dealing with ‘offence’e)Section 447 of Companies Act dealing with ‘fraud’Correct answer is option 'E'. Can you explain this answer? covers all topics & solutions for Current Affairs 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Government has made certain amendments in the Prevention of Money-laundering Act, 2002 (PMLA) through Finance Act 2018 in order to enhance its effectiveness and widen its scope. In this amendment which section was included as scheduled offence under PMLA?a)Section 247 of Companies Act dealing with ‘money-laundering’b)Section 347 of Companies Act dealing with ‘property’c)Section 447 of Companies Act dealing with ‘crime’d)Section 467 of Companies Act dealing with ‘offence’e)Section 447 of Companies Act dealing with ‘fraud’Correct answer is option 'E'. Can you explain this answer?.
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