{"act":{"id":"finance-act-2016","short_title":"The Finance Act, 2016","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2016-2017.","act_number":null,"act_year":2016,"enact_date":"2016-06-27","enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":276,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2016/"},"unit":"section","section":{"number":"232","heading":"Amendment of Act 15 of 2003","text":"PART IX Amendment to the Prevention of Money-Laundering Act, 2002 Amendment of Act 15 of 2003. 232. In the Prevention of Money-Laundering Act, 2002 with effect from the 1st day of June, 2016,— (a) | in section 2, in sub-section (1), in clause (b), for the words \"established under\", the words \"referred to in\" shall be substituted; (b) | for section 25, the following section shall be substituted, namely:— \"25. The Appellate Tribunal constituted under sub-section (1) of section 12 of the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976 (13 of 1976) shall be the Appellate Tribunal for hearing appeals against the orders of the Adjudicating Authority and the other authorities under this Act.\"; (c) | sections 27, 28, 30, 31, 32, 33 and 34 shall be omitted; (d) | in sections 36, 37, 38 and 40, for the word \"Chairperson\" wherever it occurs, the word \"Chairman\" shall be substituted; (e) | in section 73, in sub-section (2), clauses (s) and (t) shall be omitted.","html":"<p>PART IX</p><p><b>Amendment to the Prevention of Money-Laundering Act, 2002</b></p><p><b>Amendment of Act 15 of 2003.</b></p><p><b>232. </b>In the Prevention of Money-Laundering Act, 2002 with effect from the 1st day of June, 2016,—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>in section 2, in sub-section (1), in clause (b), for the words \"established under\", the words \"referred to in\" shall be substituted;</td></tr><tr><td>(<i>b</i>)</td><td></td><td>for section 25, the following section shall be substituted, namely:—</td></tr><tr><td></td><td></td><td>\"25. The Appellate Tribunal constituted under sub-section (1) of section 12 of the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976 (13 of 1976) shall be the Appellate Tribunal for hearing appeals against the orders of the Adjudicating Authority and the other authorities under this Act.\";</td></tr><tr><td>(<i>c</i>)</td><td></td><td>sections 27, 28, 30, 31, 32, 33 and 34 shall be omitted;</td></tr><tr><td>(<i>d</i>)</td><td></td><td>in sections 36, 37, 38 and 40, for the word \"Chairperson\" wherever it occurs, the word \"Chairman\" shall be substituted;</td></tr><tr><td>(<i>e</i>)</td><td></td><td>in section 73, in sub-section (2), clauses (s) and (t) shall be omitted.</td></tr></table></div>","words":168,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2016/section/232/","note":null,"source_note":"Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument.","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}