Section 50(5) in The Prevention of Money-Laundering Act, 2002
(5)Subject to any rules made in this behalf by the Central Government, any officer referred to in sub-section (2) may impound and retain in his custody for such period, as he thinks fit, any records produced before him in any proceedings under this Act:Provided that an Assistant Director or a Deputy Director shall not(a)impound any records without recording his reasons for so doing; or(b)retain in his custody any such records for a period exceeding three months, without obtaining the previous approval of the [Joint Director] [Substituted 'Director' by Finance Act, 2018 (Act No. 13 of 2018) dated 29.3.2018.].
