Question
Under the PMLA, the trial of money laundering offences is conducted by which court?
Solution
Under Section 43 of the Prevention of Money Laundering Act, the Central Government, in consultation with the Chief Justice of the concerned High Court, designates one or more Courts of Session as Special Courts for the trial of money laundering offences. The Special Court tries the offence of money laundering and, where applicable, the scheduled offence. The designation of Special Courts ensures focused and expeditious trial of money laundering cases by courts with the requisite jurisdiction and expertise.
More Banking Related Laws Questions
- Any fault, imperfection, shortcoming or inadequacy in the quality, nature and manner of performance which is required to be maintained by or under any law ...
- A contract by which one party promises to save the other from loss caused to him by the conduct of the promisor himself, or by the conduct of any other per...
- A transfer of property in completion of an exchange can be made only in the manner provided for the transfer of such property:
- Under Section 22(1), the Tribunal is _____ bound by the Code of Civil Procedure and shall be guided by _____.
- Under Section 1(4), the RDB Act does NOT apply where the debt due is less than _____. The Central Government may lower this threshold but not below _____.
- Under the PMLA, the FATF whose recommendations influenced the Act stands for what?
- Section 53 of the Banking Regulation Act, 1949 empowers a specified authority to exempt any banking company or institution or class of banking companies fr...
- According to the IBC, 2016 any person aggrieved by an order of the ________________may file an appeal to the Supreme Court on a question of law aris...
- Landlord may recover possession of premises if the tenant has created on the premises any permanent structure without consent of landlord, the permanent st...
- Under Section 13(3A) of the SARFAESI Act, if a borrower makes any representation or raises an objection upon receipt of the Section 13(2) notice, within ho...
