Section 14 in Prevention of Money-Laundering (Amendment) Act, 2012
14. Amendment of Section 17.-In Section 17 of the principal Act,-
(i)in sub-section (1),-(a)in clause (iii), after the word "money-laundering,", the word "or" shall be inserted;(b)after clause (iii), the following clause shall be inserted, namely-"(iv) is in possession of any property related to crime,";(c)in clause (d), after the words "such record or", the words "property, if required or" shall be inserted;(d)for the proviso, the following proviso shall be substituted, namely-"Provided that no search shall be conducted unless, in relation to the Scheduled offence, a report has been forwarded to a Magistrate under Section 157 of the Code of Criminal Procedure, 1973 (2 of 1974) or a complaint has been filed by a person, authorised to investigate the offence mentioned in the Schedule, before a Magistrate or court for taking cognizance of the scheduled offence, as the case may be, or in cases where such report is not required to be forwarded, a similar report of information received or otherwise has been submitted by an officer authorised to investigate a scheduled offence to an officer not below the rank of Additional Secretary to the Government of India or equivalent being head of the office or Ministry or Department or Unit, as the case may be, or any other officer who may be authorised by the Central Government, by notification, for this purpose.";(ii)after sub-section (1), the following sub-section shall be inserted, namely-"(1-A) Where it is not practicable to seize such record or property, the officer authorised under sub-section (1), may make an order to freeze such property whereupon the property shall not be transferred or otherwise dealt with, except with the prior permission of the officer making such order, and a copy of such order shall be served on the person concerned:Provided that if, at any time before its confiscation under sub-section (5) or sub-section (7) of Section 8 or Section 58-B or sub-section (2-A) of Section 60, it becomes practical to seize a frozen property, the officer authorised under sub-section (1) may seize such property.";(iii)in sub-section (2), after the words, "immediately after search and seizure" the words "or upon issuance of a freezing order" shall be inserted;(iv)for sub-section (4), the following sub-section shall be substituted, namely-"(4) The authority seizing any record or property under sub-section (1) or freezing any record or property under sub-section (1-A) shall, within a period of thirty days from such seizure or freezing, as the case may be, file an application, requesting for retention of such record or property seized under sub-section (1) or for continuation of the order of freezing served under sub-section (1-A), before the Adjudicating Authority.".
