1. Short title and commencement.
(1) This Act may be called the Prevention of Money-Laundering (Amendment) Act, 2005.
(2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint and different dates may be appointed for different provisions of this Act.
2. Amendment of Section 2.
In Section 2 of the Prevention of Money-Laundering Act, 2002 (15 of 2003) (hereinafter referred to as the principal Act), after clause (n), the following clause shall be inserted, namely:-
รขยย(na) รขยยinvestigationรขยย includes all the proceedings under this Act conducted by the Director or by an authority authorised by the Central Government under this Act for the collection of evidence;รขยย.
3. Amendment of Section 28.
In Section 28 of the principal Act,-
(a) in sub-section (1), for the words รขยยHigh Courtรขยย, the words รขยยHigh Court or is qualified to be a Judge of the High Courtรขยย shall be substituted;
(b) after sub-section (3), the following sub-section shall be inserted, namely:-
รขยย(4) The Chairperson or a Member holding a post as such in any other Tribunal, established under any law for the time being in force, in addition to his being the Chairperson or a Member of that Tribunal, may be appointed as the Chairperson or a Member, as the case may be, of the Appellate Tribunal under this Act.รขยย.
4. Omission of Section 29.
Section 29 of the principal Act shall be omitted.
5. Amendment of Section 30.
In Section 30 of the principal Act, for the words รขยยterms and conditions of serviceรขยย, at both the places where they occur, the words and brackets รขยยterms and conditions of service (including tenure of office)รขยย shall be substituted.
6. Amendment of Section 44.
In Section 44 of the principal Act, in sub-section (1), in clause (b), the words รขยยupon perusal of police report of the facts which constitute an offence under this Act orรขยย shall be omitted.
7. Amendment of Section 45.
In Section 45 of the principal Act,-
(a) in sub-section (1), for the portion beginning with the words and figures รขยยNotwithstanding anything contained in the Code of Criminal Procedure, 1973 (2 of 1974)รขยย and ending with the words รขยยon his own bond unless-รขยย, the following shall be substituted, namely:-
รขยยNotwithstanding anything contained in the Code of Criminal Procedure, 1973 (2 of 1974), no person accused of an offence punishable for a term of imprisonment of more than three years under Part-A of the Schedule shall be released on bail or on his own bond unless-รขยย;
(b) after sub-section (1), the following sub-section shall be inserted, namely:-
รขยย(1-A) Notwithstanding anything contained in the Code of Criminal Procedure, 1973 (2 of 1974), or any other provision of this Act, no police officer shall investigate into an offence under this Act unless specifically authorised, by the Central Government by a general or special order, and, subject to such conditions as may be prescribed.รขยย;
(c) in sub-section (2), the words, brackets and letter รขยยclause (b) of shall be omitted.
8. Amendment of Section 73.
In Section 73 of the principal Act, in sub-section (2),-
(a) in clause (s), for the words รขยยterms and conditions of serviceรขยย, the words and brackets รขยยterms and conditions of service (including tenure of office)รขยย shall be substituted;
(b) after clause (u), the following clause shall be inserted, namely:-
รขยย(ua) conditions subject to which a police officer may be authorised to investigate into an offence under sub-section (1-A) of Section 45;รขยย.
