Section 29 in Prevention of Money-Laundering (Amendment) Act, 2012
29. Amendment of Section 73.-In Section 73 of the principal Act, in sub-section (2),-
(i)after clause (a), the following clause shall be inserted, namely-"(aa) the manner of provisional attachment of property under sub-section (1) of Section 5;";(ii)after clause (e), the following clause shall be inserted, namely-"(ee) the manner of seizing or taking possession of property attached under Section 5 or frozen under sub-section (1-A) of Section 17 or under sub-section (4) of Section 8;";(iii)clause (h) shall be omitted;(iv)in clause (i), for the words "the time within which", the words "the nature and value of transactions and the time within which" shall be substituted;(v)for clause (j), the following clauses shall be substituted, namely-"(j) the manner and the conditions in which identity of clients shall be verified by the reporting entities under clause (c) of sub-section (1) of Section 12;(jj)the manner of identifying beneficial owner, if any, from the clients by the reporting entities under clause (d) of sub-section (1) of Section 12;(jjj)the period of interval in which the reports are sent by the reporting entities or any of its employees under clause (c) of sub-section (2) of Section 13;";(vi)after clause (p), the following clause shall be inserted, namely-"(pp) the manner in which the forwarding of the order for retention or continuation of freezing of the property and the period of keeping such order and material under sub-section (2) of Section 20;".
