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The Enforcement Directorate (ED) is entrusted with the enforcement of the provisions of which of the following Acts ?
1. Prevention of Money Laundering Act, 2002
2. Foreign Exchange Management Act, 1999
3. Fugitive Economic Offenders Act, 2018
4. Prohibition of Benami Property Transaction Act, 1988
5. Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974
6. Foreign Contribution Regulation Act, 2010
Select the correct answer using the code given below :
  • a)
    1, 3 and 4 only
  • b)
    2, 4, 5 and 6 only
  • c)
    1, 2, 3 and 5 only
  • d)
    1, 2, 3, 4, 5 and 6
Correct answer is option 'C'. Can you explain this answer?
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The Enforcement Directorate (ED) is entrusted with the enforcement of ...
  • The Directorate of Enforcement is a multi-disciplinary organization mandated with the investigation of the offense of money laundering and violations of foreign exchange laws. The statutory functions of the Directorate include the enforcement of the following Acts:
    • The Prevention of Money Laundering Act, 2002 (PMLA)
      • It is a criminal law enacted to prevent money laundering and to provide for confiscation of property derived from, or involved in, moneylaundering and for matters connected therewith or incidental thereto. The Enforcement Directorate has been given the responsibility to enforce the provisions of the PMLA by conducting an investigation to trace the assets derived from proceeds of crime, to provisionally attach the property and to ensure prosecution of the offenders and confiscation of the property by the Special court.
      • The ED has arrested Chief Minister Charanjit Singh Channi's nephew, Bhupinder Singh 'Honey,' under money laundering charges in an illegal sand mining case. 3⁄4 The Foreign Exchange Management Act, 1999 (FEMA)
      • It is a civil law enacted to consolidate and amend the laws relating to facilitating external trade and payments and to promote the orderly development and maintenance of the foreign exchange market in India. ED has been given the responsibility to conduct an investigation into suspected contraventions of foreign exchange laws and regulations and to adjudicate and impose penalties on those adjudged to have contravened the law.
      • The Enforcement Directorate has seized ₹5,551.27 crores of Xiaomi Technology India Private Limited under the Foreign Exchange Management Act (FEMA) provisions in connection with the alleged illegal remittances made by the company.
    • The Fugitive Economic Offenders Act, 2018 (FEOA)
      • This law was enacted to deter economic offenders from evading the process of Indian law by remaining outside the jurisdiction of Indian courts. It is a law whereby the Directorate is mandated to attach the properties of fugitive economic offenders who have escaped from India warranting arrest and provide for the confiscation of their properties to the Central Government.
      • Absconding liquor baron Vijay Mallya became the first person to be declared a fugitive economic offender by the special court hearing cases under the Fugitive Economic Offenders Act (FEOA).
    • The Foreign Exchange Regulation Act, 1973 (FERA) (repealed in 2000)
      • The main functions under the repealed FERA are to adjudicate the Show Cause Notices issued under the said Act up to 31.5.2002 for the alleged contraventions of the Act, which may result in the imposition of penalties and to pursue prosecutions launched under FERA in the concerned courts.
      • The government finally repealed FERA in 1999 through the Foreign Exchange Management Act (FEMA), which liberalized foreign exchange controls and removed many restrictions on foreign investment.
      • FEMA came into existence on June 1, 2000, but FERA was provided a sunset clause of two years to enable the Enforcement Directorate (ED) to complete investigations into cases already detected by it for FERA violations before May 31, 2000.
    • Sponsoring agency under the Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974 (COFEPOSA).
      • Under the Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974 (COFEPOSA), this Directorate is empowered to sponsor cases of preventive detention with regard to the contraventions of FEMA. So, Option (c) is correct.
    • The Ministry of Home Affairs enforced the provision of the Foreign Contribution Regulation Act of 2010.
    • FCRA, 2010 has been enacted by the Parliament to consolidate the law to regulate the acceptance and utilization of foreign contribution or foreign hospitality by certain individuals or associations or companies and to prohibit acceptance and utilization of foreign contribution or foreign hospitality for any activities detrimental to national interest and for matters connected therewith or incidental thereto.
    • The provision of the Prohibition of Benami Property Transaction Act, 1988, was enforced by the Department of Revenue, Ministry of Finance.
    • The Benami Transactions (Prohibition) Act 1988 was introduced to prohibit Benami transactions and to recover the property held as Benami.
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The Enforcement Directorate (ED) is entrusted with the enforcement of ...

Enforcement Directorate (ED) and its Enforced Acts:

The Enforcement Directorate (ED) is entrusted with the enforcement of the provisions of several key Acts in India. These Acts are aimed at tackling various financial crimes and offenses. Below are the Acts enforced by the Enforcement Directorate:

1. Prevention of Money Laundering Act, 2002:
- The Prevention of Money Laundering Act, 2002 is a crucial legislation aimed at preventing money laundering and related financial crimes. The ED plays a significant role in enforcing the provisions of this Act.

2. Foreign Exchange Management Act, 1999:
- The Foreign Exchange Management Act, 1999 is another important law that governs foreign exchange transactions in India. The ED is responsible for enforcing this Act to regulate foreign exchange transactions effectively.

3. Fugitive Economic Offenders Act, 2018:
- The Fugitive Economic Offenders Act, 2018 is a relatively new legislation aimed at dealing with economic offenders who flee the country to avoid facing prosecution. The ED plays a key role in enforcing this Act.

4. Prohibition of Benami Property Transaction Act, 1988:
- The Prohibition of Benami Property Transaction Act, 1988 is aimed at curbing the practice of holding benami properties. The ED plays a crucial role in enforcing this Act to prevent such transactions.

5. Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974:
- The Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 1974 is aimed at conserving foreign exchange and preventing smuggling activities. The ED enforces the provisions of this Act to combat smuggling and related offenses.

6. Foreign Contribution Regulation Act, 2010:
- The Foreign Contribution Regulation Act, 2010 is aimed at regulating the acceptance and utilization of foreign contributions by individuals and organizations in India. The ED is responsible for enforcing this Act to ensure compliance with the regulations related to foreign contributions.

Therefore, the correct answer to the question is option 'C' - 1, 2, 3, and 5 only. The Enforcement Directorate plays a crucial role in enforcing these Acts to combat financial crimes and offenses effectively.
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The Enforcement Directorate (ED) is entrusted with the enforcement of the provisions of which of the following Acts ?1. Prevention of Money Laundering Act, 20022. Foreign Exchange Management Act, 19993. Fugitive Economic Offenders Act, 20184. Prohibition of Benami Property Transaction Act, 19885. Conservation of Foreign Exchange and Prevention of Smuggling Activities Act, 19746. Foreign Contribution Regulation Act, 2010Select the correct answer using the code given below :a)1, 3 and 4 onlyb)2, 4, 5 and 6 onlyc)1, 2, 3 and 5 onlyd)1, 2, 3, 4, 5 and 6Correct answer is option 'C'. Can you explain this answer?
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