Section 8: Attachment of property involved in money laundering

8. Attachment of property involved in money laundering. (1) [An] investigating officer may, on the basis of the report in his possession received from the concerned investigating [or prosecuting] agency, by order in writing, with prior permission of the Court, provisionally attach [a] property, which he reasonably believes to be [the property] involved in money laundering for a period not exceeding [one hundred and eighty] days from the date of the order [:] [Provided that the Court may grant further extension for a period up to one hundred and eighty days.] (2) The investigating officer shall within forty-eight hours immediately after attachment under sub-section (1), forward a copy of the order, [and the report] referred to in that sub-section, to the head of the concerned investigating agency, in a sealed envelope [***]. (3) Every order of attachment made under sub-section (1) shall cease to have effect after the expiry of the period specified in that sub-section or on the date of the finding made under sub-section (2) of section 9 whichever is earlier. (4) Nothing in this section shall prevent the person interested in the enjoyment of the immovable property attached under sub-section (1) from such enjoyment. Explanation.― For the purposes of this sub-section, “person interested”, in relation to any immovable property, includes all persons claiming or entitled to claim any interest in the property. (5) The investigating officer who provisionally attaches any property under sub-section (1) shall, [submit to the Court monthly report on the progress made in the investigation.]

Effective date: 2010-03-27

Amendment history

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