Section 46 the Prevention of Money- Laundering Act, with Case Law 2002
Here’s a summary of Section 46 of the Prevention of Money Laundering Act, 2002:
Section 46: Power to arrest
Key points:
Authority to arrest:
Any officer not below the rank of Deputy Director or an officer authorized by the Central Government can arrest a person without a warrant if they have reason to believe that such person has committed an offence punishable under the PMLA.
Conditions for arrest:
The arrest can be made if the officer believes that the person is involved in money laundering activities or is likely to tamper with evidence, influence witnesses, or otherwise obstruct the investigation.
Procedure after arrest:
The arrested person must be produced before a Magistrate within 24 hours, excluding the time taken for the journey from the place of arrest to the Magistrate.
Rights of arrested person:
The arrested person has the right to consult a legal practitioner of their choice.
Importance:
Section 46 empowers designated officers to take immediate action to apprehend individuals suspected of money laundering, helping in timely investigation and prevention of further crime.
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