{"act":{"id":"finance-act-2019-no-2","short_title":"The Finance Act, 2019 (No. 2)","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2019-2020.","act_number":null,"act_year":2019,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":217,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2019-no-2/"},"unit":"section","section":{"number":"192","heading":"Amendment of section 2","text":"Amendment of section 2 192. In the Prevention of Money-laundering Act, 2002 (15 of 2003) (hereafter in this Part referred to as the principal Act), in section 2, in sub-section (1),-- (i) | in clause (n), in sub-clause (i), the word \"sub-broker,\" shall be omitted; (ii) | in clause (sa), for sub-clause (ii), the following sub-clause shall be substituted, namely:-- '' (ii) Inspector-General of Registration appointed under section 3 of the Registration Act, 1908 (16 of 1908) as may be notified by the Central Government;''. (iii) | in clause (u), the following Explanation shall be inserted, namely:— 'Explanation.—For the removal of doubts, it is hereby clarified that \"proceeds of crime\" include property not only derived or obtained from the scheduled offence but also any property which may directly or indirectly be derived or obtained as a result of any criminal activity relatable to the scheduled offence;'.","html":"<p><b><b>Amendment of section 2</b></b></p><p><b><b>192</b>. </b>In the Prevention of Money-laundering Act, 2002 (15 of 2003) (hereafter in this Part referred to as the principal Act), in section 2, in sub-section (<i>1</i>),--</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>in clause (<i>n</i>), in sub-clause (<i>i</i>), the word \"sub-broker,\" shall be omitted;</td></tr><tr><td>(<i>ii</i>)</td><td></td><td>in clause (<i>sa</i>), for sub-clause (<i>ii</i>), the following sub-clause shall be substituted, namely:--</td></tr><tr><td></td><td></td><td>'' (<i>ii</i>) Inspector-General of Registration appointed under section 3 of the Registration Act, 1908 (16 of 1908) as may be notified by the Central Government;''.</td></tr><tr><td>(<i>iii</i>)</td><td></td><td>in clause (<i>u</i>), the following <i>Explanation </i>shall be inserted, namely:—</td></tr><tr><td></td><td></td><td>'<i>Explanation.—</i>For the removal of doubts, it is hereby clarified that \"proceeds of crime\" include property not only derived or obtained from the scheduled offence but also any property which may directly or indirectly be derived or obtained as a result of any criminal activity relatable to the scheduled offence;'.</td></tr></table></div>","words":146,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2019-no-2/section/192/","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."}