competition success review

competition success review

competition success review  Published this article page no   147 The Adjudicating Authority is appointed by the central government. It decides whether the property attached or seized is involved in money laundering.The Adjudicating Authority shall not be bound by the procedure laid down by the Code of Civil Procedure1908 but shall be guided by the principles of natural justice and subject to the other provisions of PMLA. Appellate Tribunal An Appellate Tribunal appointed by the Government is given the power to hear appeals against the orders of the Adjudicating Authority. Orders of the tribunal can be appealed in the appropriate High Court. Special Court Provision for establishing special court by the Union government under Prevention of Money Laundering Act 2002 (PMLA). PMLA (Amendment) Act 2012Adds the concept of reporting entity which would include a banking company financial institution intermediary etc.PMLA 2002 levied a fine up to Rs 5 lakh but the amendment act has removed this upper limit competition success review buy.

competition success review