Section 7: Chairman of the Authority
The National Anti-Money Laundering and Counter Financing of Terrorism Authority Act, 2023 · General Laws · in_force
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7. Chairman of the Authority.—(1) There shall be a Chairman of the Authority to be appointed by the Prime Minister for term of three years on such terms and conditions as may be prescribed. The Chairman shall be eligible fur reappointment for another term. (2) The Chairman shall not be removed from the office prior to the expiry of the term unless he is guilty of gross misconduct; or is incapable of properly performing the duties of his office by reason of physical or mental incapacity: Provided that no proceedings under this sub-section shall be initiated unless a show cause notice, including an opportunity of being heard, is given to such person. (3) The Chairman may tender his resignation under his own hand to the Prime Minister. (4) In the absence of the Chairman, the Director General shall act as acting Chairman and perform all functions and powers of the Chairman under this Act.
Effective date: 2023-08-07
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