Section 6 in Prevention of Money-Laundering (Amendment) Act, 2012
6. Amendment of Section 8.-In Section 8 of the principal Act,-
(i)in sub-section (1), after the words and figure "Section 5, or, seized", the words "or frozen" shall be inserted;(ii)in sub-section (3),-(a)in the opening portion, for the words and figures "record seized under Section 17 or Section 18 and record a finding to that effect, such attachment or retention of the seized property", the words and figures "record seized or frozen under Section 17 or Section 18 and record a finding to that effect, whereupon such attachment or retention or freezing of the seized or frozen property" shall be substituted;(b)in clause (a), for the words "scheduled offence before a court; and", the words "offence under this Act before a court or under the corresponding law of any other country, before the competent court of criminal jurisdiction outside India, as the case may be; and" shall be substituted;(c)for clause (b), the following clause shall be substituted, namely-"(b) become final alter an order of confiscation is passed under sub-section (5) or sub-section (7) of Section 8 or Section 58-B or sub-section (2-A) of Section 60 by the Adjudicating Authority";(iii)in sub-section (4), for the words "possession of the attached property", the following shall be substituted, namely-"possession of the property attached under Section 5 or frozen under sub-section (1-A) of Section 17, in such manner as may be prescribed:Provided that if it is not practicable to take possession of a property frozen under sub-section (1-A) of Section 17, the order of confiscation shall have the same effect as if the property had been taken possession of.";(iv)for sub-sections (5) and (6), the following sub-sections shall be substituted, namely-"(5) Where on conclusion of a trial of an offence under this Act, the Special Court finds that the offence of money-laundering has been committed, it shall order that such property involved in the money-laundering or which has been used for commission of the offence of money-laundering shall stand confiscated to the Central Government.(6)Where on conclusion of a trail under this Act, the Special Court finds that the offence of money-laundering has not taken place or the property is not involved in money-laundering, it shall order release of such property to the person entitled to receive it.(7)Where the trial under this Act cannot be conducted by reason of the death of the accused or the accused being declared a proclaimed offender or for any other reason or having commenced but could not be concluded, the Special Court shall, on an application moved by the Director or a person claiming to be entitled to possession of a property in respect of which an order has been passed under sub-section (3) of Section 8, pass appropriate orders regarding confiscation or release of the property, as the case may be, involved in the offences of money-laundering after having regard to the material before it.".
