Updated: Sunday March 29, 2015/AlAhad Jamada El Thaniah 09, 1436/Ravivara Chaitra 08, 1937, at 06:53:37 AM

The Anti-Money Laundering Act, 2010

 

EXTRAORDINARY PUBLISHED BY AUTHORITY

ISLAMABAD,   SATURDAY,   PART I

Acts, Ordinances, President's Orders and Regulations

SENATE SECRETARIAT

Islamabad, the 27th  M arch, 2010

 

No. F. 9(4)/2010-Legis.-The following Act of Majlis-e-Shoora (Parliament) received the assent of the President on 26th March, 2010, is hereby published for general information:---

 

MARCH 27, 2010

 

Act No. VII OF 2010

 

An Act to provide for  prevention  of money laundering

 

WHEREAS it is expedient to provide for prevention of money launderi ng. coin bati ng financi ng of terrorism and forfeiture of property derived from, or i n vol ved i n, money launderi ng or financing of terrorism and for matters connected there,vi th or i nc iden tal thereto;

 

It is here by enacted as follows:-

 

I .    Short title, extent and  commencement.-(!) Thi s Act may be

called the Anti-Money Laundering Act, 2010.

 

(2)         11 extends to the Whole of Pakistan.

 

(3)         I t shall coine into force at once.

 

2.        Definitions.-Jn  t hi s Act,  u nless  !here  is  any t h ing  repu gnant  i n

t he subject or con tex t,-

 

(a)          "attachmen t" means prohibi tion of transfer, con version, disposi tion

or movemen t of property  by an order issued u nder section 8;

 

( b)     "compan y" means any bod y corporat e and incl ud es a firm or other associat ion of indi viduals ;

 

( c ) "CTR" means report on  currency  transactions  exceeding  such amou n t as may be specified by the Nat iona l Execut ive Com mi t tee by notificat ion i n t he official Gazette;

 

( d )      "Court" means the Court  specif ied u nder section  20;

 

(c )        "Director-General " means the Di rector-General  of t he FMU

appoi n ted u nder section 6:

 

( f)      "financial i "'titution" i ncl udes any in>ti tution caccyi ng on any one

or more of the following act i vi ties, namel y:-

 

(1)            )       acceptance  of deposi ts and other repayable funds from the

publ ic;

 

(i i )     !ending i n w hat::..oever form ; (i ii )     financial  leasi ng;

(iv)            n1oncy or val ue transfer;

 

( v )     issu i n g and managi ng means of paymen ts i ncl ud ing bu t  not I i m i ted to credi t and debit cards, cheq ues. tra vellers cheq ues, money  orders,  bank  drafts  and  electron ic  money;

 

( vi )      fi na nci al guaran1ees and com mi tmen ts; ( vi i)            tradi ng  in-

(a)          money market i n.o;, tru ments; (b)             foreign   ex.change;

( c )      ex.chan ge, i n terest  rate and  index  i nstru ments;

 

(d)    transferable  securi ties; and (e )    com mod i ty futures t radi ng;

 

(viii)           )    partici pation  i n  shares issues and t he prov ision of   services related  to such  issues;

 

(ix)          indi vidual and collect ive portfolio managemen t;

 

( x )        safekeepi ng and admi nistration of cash or l iq u id securi ties on behalf  of other persons;

 

(xi)          i n vesti ng, administeri ng or managi ng funds or money on behalf of  other  persons;

 

(xii)          )    -i nsura nce busi ness  transactions;

 

(xiii)           money and currency changing; and

 

(xiv)          carryi ng out busi ness as i n termed iary.

 

(g)         "fiscal offence" means an offence pu n i shable u nder the Income Tax Ordinance 200 I (XLIX of 200 I ), the Federal Excise Act. 2005, the Customs Act, 1969 (IV of 1969) except sections 2 (s), 15 , 16, 32, 32A and 158 thereof; the Sales Tax Act, 1990 and any  other law as the Federal Govern men t may not ify i n t his behal f:

 

(h)         "FMU" means the Financi al Mon i toring U ni t established u nde r section  6;

 

1)         "fmeign serious offence" means an offeoce-

 

(i)      against the law of a foreign State stated i n a certif icate issued by, or on behalf of, the govern men t of that foreign State: and

 

(ii)     which, had i t occu rred i n Pakistan, wou l d have constituted a predicate   offence;

 

Ul "io vesti gat iog oc prosecu ti og ageocy" mea ns t he Na t i oo a l Accou ntability Bu reau ( N A B), Federal In vestiga tion Agency ( FIA), A n ti-Narcotics Force (A N F) or any other law enforceme n t agency as may be notified by the Federal Govern ment for the i n vestigation or prosecut ion of a pred icate offence:

 

( k )   "in vest igati ng officer" means the officer nom i nated or appointed

u nder section 24;

 

(I)          "National Execu t ive Commi ttee" means the N ational Exec u t i ve Com m ittee consti tuted  u nder section  5;

 

(1T1 ) "non-financial busi nesses  and  professions"  means  real  estat e agen ts, jewellers,  dealers i n preci ous metal s and precious stones, l awyers, notaries and other legal professiona ls, accou n ta n ts. trust and  com pa n y  service  providers  and  suc h  other  non-f i na nc i a l b usi nesses and professions as may be not i fi ed by the Federa l Govern men t;

 

(n)      ''offence of money laundering" has the meaning as defined in

section 3;

 

(o)          "person" means an i ndi vidual, a firm, an entity, an associat ion or a body of indi viduals. whether i ncorporated or not, a com pany and every other juridica l  person;

 

(p)          "prescribed" means prescribed  by  ru les made u nder this Act ;

 

(q)         )   "proceeds  of  crime"  means  any  property  deri ved  or  obt ained d i rect ly or  i ndi rect ly by  any  person  from  the com mission  of  a predicate  offence or a foreign  serious offence;

 

(r)          "property" means property or assets of any descri ption, whether corporea l  or  i ncorporea l ,  movable  or  i m movable,  tan gibl e  or i ntangi ble, and i ncl udes deeds and instru men ts evidenci ng t i t le to, or i nterest i n, such property or assets, incl udi ng cash and monetary inst ru ments, w herever located:

 

(s)         "predicate offence" means an offence specified i n the Schedu le to this Act

 

(I ) "record" i ncludes the records maintai ned i n the form of books or stored i n a compu ter or any electronic device, or such other form as may be prescribed ;

 

(u ) "reporting entity" means an ent i ty specif ied i n clause (f) or clause (m) and incl udes a:ny other ent i ty designated as such by Federa l Govern ment  by notification  i n the official Gazette

 

( v ) "SBP" means State Ban k of Pak istan established u nder the State Ban k of Pakistan Act, 1956 ( X X XIII of 1956);

 

( w )   "Schedule" means  a schedule to th i s Act;

 

( x ) "SECP" means Securit ies and Exchange Com mission of Pakista n establ ished u nder the Securities and  Exchange  Commi ssion  of Pak istan Act, 1997 ( X LII of 1997);

 

( y )      '"Suspicious Transactions Report" means the report on suspicious t ransact ions specified u nder section 7; and

 

(z)   "'lni nsfer" means sale, lease, purchase, mortgage, pledge, gift, loan, or any other form of transfer of righ t, t i tle, possessio11 or lien .

 

3. Offence of money laundering.-A person shall be guil ty of offence of money l aunderi ng, if the person-

 

( a) acq ui res, con verts, possesses, uses or transfers property, knowi ng or havi ng reason to believe that such property is proceeds of crime;

 

(b)           conceals or di sguises the true nature, origi n, location, disposition, movemen t or ownershi p of property, knowi ng or havi ng reason to believe that such property is proceeds of cri me;

 

(c)            hol ds or possesses on behalf of any other person  any property k nowi ng or havi ng reason to believe that such property is proceeds of cri me; or

 

(d)            partici pate i n, associates, conspi res to com mi t, attempts to commi t, aids, abets, faci l i tates, or cou nsels the com m ission of the  acts specif ied i n clauses (a), ( b) and (c).

 

Explanution.- The knowledge, in tent or purpose req ui red as an element of an offence set forth i n this section 1nay be inferred from factual circumstances i n accord ance wi th the Qanu n-e-Shahadat 1984 (P.O. 10 of 1984).

 

4. Punishment for money lau ndering.-W hoever commi ts the offence of money launderi ng shall be punishable wi th rigorous imprison ment for a term w h ich shall not be less than one year but may extend to ten years and shall also be l iable to fine which may extend to one mi llion rupees and shall also be l iable to forfeiture of property i n vol ved i n the money lau nderi ng:

 

Provided that the aforesaid fine may extend to fi ve million ru pees i n case of a company and every director, officer or employee Of  the  compan y found gu i lty u nder this section shal l also be p u nishabl e u nder this section.

 

5.    N a t iona l    Execu t i ve    Co m mi t tee    to    com ba t    m on ey lau ndering.- ( I ) With i n th i rty days of the com mencement of this Act th e Federa l Govern ment shall, by notification i n the officia l Gazet te, const i t ute a com mi ttee to be known as the National Executive Com mi ttee which shall consist of  the  followi ng  members ..namely:-

 

(a)          M i nister for Finance or Advisor to the Pri me   Chairman

Mi nister on Fi nance/concerned  Mi nister

 

(b)          l\!f i ni ster for Foreign Affai rs                                                       M ember

 

(c )           M!ni;;ter for Law and Justice                           M en1ber

 

(d )      M inister for In terior                                         M ember

 

(e)       Governor SBP                                                    M embe r

 

(f)      Chairman SECP                                                M ember

 

(g)     Cha irman N A B                                                M ember

 

(h)     Di rector General                                  M en1ber

 

(i)      any other member to be nomi nated by the Federal Govern ment.

 

(2)       The  Director-General,   FM U  shall  u!so  act  as  Secretary  of  the Nat ional Execu t i ve Commi ttee.

 

(3)        The Nat ional Execu ti ve Com mi ttee shall-

 

( a)          meet regularly to develop, co-ordinate and publish an annual national strategy to fight money launderi ng and financi ng of terrorism ;

 

(b)            determi ne offences exist ing i n Pakistan t hat may be considered to he predicate  offences  for the purposes  of  this Act;

 

(c)            )         provide guidance and sanction i n framing of rules and regulat ions u nder th i s Act;

 

(d)            make recom mendat ions to the Federal Government for effect i ve implementation of this Act and framing of national policy to combat money launderi ng and financi ng of terrorism;

 

(e)            )     i ssue  nece ssary  d irec t ions  to  t he  agencies  i n vol ved  i n  t he implementation and administrat ion of th is Act:

 

(f)            ) discuss any other issue of nat ional im portance relating to money lau nderi ng and financi ng of terrorism; and

 

(g)            approve FM Li's budgetary proposal s for achievi ng the object ives of this Act;

 

( h ) approve FM U's staffing requi rements, pays, allowances, pri vileges and  compensation  packages  and other matters  incidental  thereto;

 

(i) take measu res as necessary for developmen t and review of performance  of  investigati ng  agencies,  FMU  and  the  f inancial i nsti tutions and non-financial busi nesses and professions, relat ing to anti-money laundering and com bati ng f i nanci ng of terrorism;

 

(j)         review trai ning programs for Govern men t. f i nancial inst i t utions, non-financial busi nesses and professions and other persons, relati ng to anti-money launderi ng and com bati ng financi ng of terrorism ; and

 

( k )   u ndertake  and perform  such other functions as may be assigned to i t by the Federal Govern ment, relati ng to money launderi ng and fi nancing of terrorism.

 

(4)       l'he National Executive Com mi ttee shall be assisted by a Gener:.l Com mi ttee to be composed of-

 

( a)

 

(h)

Secretary Finance

 

Secretary  I n terior

 

Chair1na11

 

M en1ber

(c )

 

(d )

 

(e)

Secretary Foreigri

Secretary  Law Governor SBP

<\ff airs

M ember M embe r

M ember

( f)

Chairman SECP

 

lvlember

 

( g)      Director-General , FCIW, N A B                   .M emb e r

 

( h )   Di rector-  General                                         

 

(;)    any other member to be nomi nated by the Federal Govern men t.

 

( 5)     The  Director-General ,  FM U  shall  a l so  act  as  Secretary  of   Lhc General  Com mi ttee.

 

(6)     'l'he General  Com mittee  niay 1 n vi le any  per:-.on  to partici pat e i n t he  meet ing  as i t deems  necessary.

 

(7 )   The General  Com mi ttee  shal l , inter alia-

 

( a) ta k e measu res as necessary for deve lopmen t and rev ie \\.- of performance  of  i n vest i gat i ng  agencies.  FMU  and  t he  fina nc ia l i nsti t u tions and non-financi al b usi nesses and  professions, relat1n g to anti-money lau nderi ng and com bat ing f i nanci ng of terrurisn1;

 

(b) review traini ng programs for G overn mcn1 , f inancial insti t u tio ns. non-fi nancial busi nesses and professions and other persons, rel at i ng to anti-money launderi ng and combat i ng financi ng of terrori,,ni:

 

( c )    prov ide necessary assistance to the Nat ional Exec u tive Com mi t lee i n carrying out i ts fu nct ions and du t ic u nder thi s Act ;

 

(d )    discuss aP.y other issue of nationa l import ance relat ing to n1one y l aunderi ng and f inanci ng of terrori sm; and

 

(e)    u nderta ke and perf or111 such other fu nctions as assigned to i t by

t he National Execut ive Commi ttee.

 

6.           Financial Monitoring Uni t.-('! ) 'f hc Ft:dcra l Govern men t sha ll , by uot ification i n the Official Gazette, establ ish a Financial  Mon i tori ng L n1 t

\.vh ich shal l be housed i n SBP or at any other place i n Pak ist an.

 

(2)         The FM U shall have inde pendent  deci  ion mak i ng authori t y on day-In-d ay mat ters coming wi thi n i ts areas of respon:-. 'iJi1i ty.

 

(3)         A Director·-General who shall be a financia l sector specialist shal l be appoi n ted by the Federal Govern n1en t i n consu l tation v.·i th SBP to head f ll and exercise al l powers and fu nct ions of t he FM U su bject to the ad mi n ist rat i \. e oversi gh t  of the Genera l Com mi ttee.

 

(4)         The FM U  shall  exercise  the foll owi ng  powers  and  perform  th e following  funct ions, namely:-

 

( a )      to  rece i ve  Su spicious  Tran sact ions  Reports  and  CTR s  from f i na nc ia l i nst i tu t i ons and such non -f i n anci a l busi nesses and professions as may be necessary to accomplish the objects of this Act ;

 

(b)            to analyse the Suspicious Transaction Reports and  CTRs  and  in that respect the FMU may call for record  and  information  from any agency or person in Pak istan ( wi th the exception of income tax i nformation ) related  to the transaction i n question. All such agencies or persons shall be requ ired to prom ptl y provide the requested   information;

 

(c)            )    to dissemi nate, after havi ng considered  the  reports  and  havi ng reasonable grounds to suspect, the Suspicious Transaction  Reports and any necessary information to the i n vest igat ing  agencies

concerned as described i n clause U) of section 2:

 

(d)            to create and mai n tai n a data base of all Suspicious Transaction Reports and CTRs, related informat ion and such other material s as the Director-General determi nes  are relevant  to  the  work  of the FM U and i n that respect, the FMU is authorised to establi sh necessary analytic software and computer equipment to effectivel y search the database, sort and  retrieve  information  and  perform real time  linkages wi th databases of other agencies  both in and outside Pak istan as may be requ ired from time to time;

 

(e)            to co-operate wi th financial intelligence un its in other cou ntries and to share and req uest i n format ion subject t o rec iproca l agreemen ts entered  in by the Federal  Govern ment;

 

(f)  lo repre,ent Paki'1an at all i n ternationa l and regional organi,ations and groupings of financial intelligence units and other international groups and forums which address the offence of money laundering, f i nanci ng of terrorism and other related  matters;

 

(g)         to submi t to the National Executi ve Committee an annual report containing recommendations based upon necessary information and stati stics regarding countermeasures wh ich can be taken to combat money launderi ng and such reports shall provide an overall analysis and evaluation of the Suspicious Transaction Reports limited to details of  the  investigations  and  prosecutions  that  have  been  or

 

are bei ng conducted i n relation to the offence of money  launderi ng or financi ng of terrorism i n Pak istan; and i n th is behalf to call for periodic reports from investigati ng and prosecuti ng agencies i n such manner  as  may  be  specified  by  FM U;

 

(h)         to frame regu lations in consultation wi th SBP and SECP for ensurin g recei pt  of  Suspicious  Tra nsact ion  Reports  and  CTRs  from  the f inancial insti tutions and non-fi nancial busi nesses and professions wi th the approval of the Nat ional Execut ive Com mi ttee;

 

(;)   to <ecom mend to the regu latory authori ties of reporti ng enti t i°' to iss ue regula tions as consi dered necessary i n the contex t of combating money laundering  and  financi ng of terrorism  in the areas of  customer  due  diligence  and  ancillary   record-keepi ng;

 

U) to engage a financial insti tution or an intermediary or such other non-fi nancial busi nesses and professions or any of i ts officers as may be necessary for facili tati ng implemen tation of the provisions of thi s Act, the ru les or regu lations made hereu nder; and

 

( k ) to perf.orm all such funct ions and exercise all such powers as arc necessary for, or ancillary to, the attain men t of the objects of thi s Act.

 

(5)         On considering the suspicious transaction report or CTR, the FM U inay, i f deems necessary, convey matters invol vi ng regulatory or admi nistrat i ve act i on to the concerned regu latory or adm i nistrati ve body for appropriate action.

 

(6)         Subject to the regulations sanctioned by t he National Executi ve Com mi ttee i n thi s behalf, the Director-General may, if there appear to be reasonable grou nds to believe that any property is invol ved i n money launderi ng or fi nanci ng of terrorism, order freezing of such property, for a maxi mum period of fi fteen days, i n any man ner that he may deem fi t i n the circu mstances.

 

7.           Proced u re and man ner of furnishing information by the financial institutions or reporting entities.-(!) Every financial i nsti t ut ion shal l fi le wi th- the FM U, to the extent and i n the manner prescribed by the FM U. Suspicious Transaction Report conducted or attem pted by, at or through that fmancial institution if the financial insti tution and reporti ng entity knows, suspects, or has  reason  to  suspect  that  the  transaction  or  a  pattern  of  transactions  of w hich the transaction  is a part -

 

(a) in volves funds derived from i llegal activities or is intended or conducted  in order to hide or disgu ise proceeds of crime;

(b)            is designed to evade any req ui rements of th is section;

 

(c)            ) has no apparent lawful purpose after examining the available fil.cts, i ncl udi ng the background and possible purpose of the transaction:  or

 

(d)            i n vol ves f inancing of terrorism:

 

Provided that Suspicious Transaction Report shall be filed by the financial i nst i tu t ion or reporting en ti ty with the FM U im med iately btit not later than seven work i ng days af ter forming that suspicion.

 

(2)        A ny other govern ment agency, autonomous body or regulatory authori ty may share intel ligence or report their suspicions wi th i n the meaning of suspicious transact ion report or CTR to FM U i n normal cou rse of their busi ness and the protection provided u nder section 12 shall be available to such agency, hod y or authori ty.

 

(3)        All CTRs shall, to the extent and i n the manner prescribed by the FM U. be filed by the f inancial i nsti tutions or reporti ng en t i ties wi th the FMU i m mediatel y, but not later than seven worki ng days, after the respecti ve currency t ransaction.

 

(4)        Every reporti ng entity shall keep and main tai n all record related to Suspicious Transactions  Reports and CTRs filed by  i t for a peri"od  of at least f ive years after reporti ng of transaction  under  sub-sections  (1), (2) and  (3).

 

(5)        The provisions of this section shall  have  effect  notwithstand ing any obligation as to secrecy or other restriction on the di sclosu re of informat ion i m posed by any other law or written docu ment.

 

(6)        Notwi thstandi ng anythi ng contai ned i n any other law for the t ime bei ng i n force, any Suspicious Transactions Reports requi red to be submitted by any person or entity to any investigat ing or prosecu ti ng agency shal\, on the com mencement of this Act, be solely and exclusi vel y submitted to FM U lo the exclusion of a ll others.

 

8.           A ttachment of property involved in money laundering.-( I ) The investigati ng officer may, on the basis of the report i n his possession recei ved from the concerned investigating agency, by order in writi ng, wi th prior permission of the Court, provisionally attach property which  he reasonabl y believes to be proceeds of cri me or invol ved i n money lau nderi ng for a period not exceed ing ni nety days from the date of the order.

( 2) The i n vesligati ng officer shall wi thi n forty-eight hours im med iatel y af ter attach men t u nder sub-section ( I ), forward a copy of the order, alongv·ii t h t he material i n his possession referred to i n lhat sub-section, to the head of t he concerned i n vest i gating agency, i n a sealed envelope, i n the manner as may be prescri bed , and the concerned i nvestigati ng agency, shall keep such order and 1naterial for such period as may be prescri bed.

 

(3)        Every order of attach ment made under sub-sect ion (I ) shall cease to ha ve effect after the expiry of the period specif ied i n that sub-section or on the date of the finding made under sub-section (2) of section 9 whichever is earlier.

 

(4)        Nothi ng i n this section shall preven t the person i n terested i n the enjoy men t of t he immova ble property attached under sub-section ( l ) from such enjoy1nen t.

 

Explanation. -For the purposes of t his sub-sect ion the expression "person i n terested", i n relation to any im movable property, i ncl udes all persons clai mi ng or en t i tled to claim any interest i n the property.

 

(5)        The i n vest i gating officer w ho provisional l y attaches any property u nder sub-seCtion ( I ) shall, wi thi n a period of thi rty days from such attach men t, fi le a complai n t stating the facts of such attach men t before the Court.

 

9.           Investigation.-( I ) The i n vestigati ng off icer shall, not later than seven days from the date of order of attach men t made u nder sub-section ( I ) of section 8 or, seizure of property under section 14 or section 15, serve a notice of not less than thi rty days on the person concerned. The notice shall call u pon such person to indicate the sources of his income, earni ng or assets, out of w hich or by means of w hich he has acquired the property attached u nder sub­ section ( I ) of section 8, or, seized under section 14 or section 15, the evidence on w hich he rel ies and other relevant i nformation and particu lars, and to show cause why all or any of such properties should not be declared to be the properties i n vol ved i n money launderi ng and forfeited to the Federal Government:

 

Provided that where a notice under this sub-section specifies any property as bei ng hel d by a person on behalf of any other person, a copy of such not ice shall also be served upon  such other person:

 

Provided further that where such property is held joi ntly by more than one person, such notice shal l be served upon all persons holdi ng such property.

(2)       The invest igating officer shall, after-

 

(a)         consider ing the repl y, if any, to the notice issued und er sub­ section  (I):

 

(b)         heari ng the aggrieved person; and

 

(c)        tak ing i n to accoun t al l relevan t materials placed on record before h im;

 

record a finding whether all or any other properties referred to i n the notice issued u nder sub-section ( l ) are invol ved i n money launderi ng:

 

Provided that if the property is clai med by a person, other than a person to w hom t he notice had been issued, such person shall also be  given  an opportu ni ty of bei ng heard to prove that the property is not invol ved i n money laundering.

 

(3)        W here the  i n vestigati n g off icer on the basis of report recei ved from the concerned i n vestigati ng agency determi nes u nder sub-section ( 2) that any property is invol ved i n money lau nderi ng, he shall apply to the Court for an order confir1ni ng the attach ment of the property made u nder sub-section ( 1) of section  8 or retention  of property  or record  seized u nder section  14 or section 1 5. Such  attach men t or reten tion of the seized property  or record shall-

 

(a)         con tinue during the pendency of the proceedi ngs relating to any predicate offence or money lau nderi ng before a cou rt; and

 

(b)         become final if i t is proved i n the court that the property is proceeds of crime or involved i n money launQeri ng and order of such court becomes  final.

 

(4)        Where t he provisional order of attach men t made u nder sub­ section   ( I )  of  section  8  has  been  conf i rmed   u nder  su b-section   (3),  t he i n vestigating  officer shall forthwith  take possession  of the attached property:

 

Provided that where the property seized is perishable i n nature or subject to speedy and natu ral decay, or when the expense of keepi ng i t i n custody  is l i kel y to exceed i ts val ue, the Court may, on the application of the i n vestigati n g officer, order i m mediate sale of the property i   any man ner deemed appropriate i n the circu mstances.

 

(5)        W here on conclusion of a trial for any predicate offence or money l aunderi ng, the person concerned is acq ui tted, the attach men t of the property or retent ion of the seized property or record u nder sub-sect ion (3) and net income, if an y, shall cease to ha ve eff ect.

(6) Where the auach ment of any property or retention of the seized property or record becomes final under clause (b) of sub-section (3), the Court shal l . after giving an opportuni ty of being heard to the person concerned, make an order  for forfeiture of such property.

 

(7) Af ter passi ng the order of forfeiture u nder  sub-section  (6)  of section 9, the Court may direct the release of all properties  other  than  the propert ies i n vol'{ed i n money lau nderi ng to the persons from whom such propert ies were  seized .

 

10.      Vesti ng of property in Federal Government.-Where an order of forfei t ure has been made under sub-section (6) of section 9 i n respect of any property of a person, all the rights and ti t le i n such property shall vest absolutel y  i n the Federal Govern ment free from all encumbrances:

 

Provided that where the Court, af ter givi ng an opportuni ty of  bei ng heard to any other person i nterested i n the property attached u nder section 8, or seized under section 14, is of the opinion that any encumbrance on the property or leasehold i n terest has been created wi th a view to defeat the provisions of this Act, i t may, by order, declare such encumbrance or lease-hold interest to be void and thereupon the aforesaid property shall vest i n the Federal Governmen t free from  such encu mbrances or leasehold  interest:

 

Provided f u rther tht nothi ng i n this section shall operate to discharge any person from any liabi li ty i n respect of such encu mbrances, w hich may be enforced agai nst such person  by a suit for damages.

 

1 1. M a nageme n t of forfeited pr opert ies.-( !) The Fed e r a l Govern men t may. by order published i n the off icial Gazette, appoint as man y trustees and recei vers as i t thinks fit to perform the functions of an Administrator.

 

(2)       The Ad mi nistrator appoin ted u nder sub-section ( I ) shall recei ve and manage the property i n relation to which an order has been made under sub-section (6) of section 9 i n such man ner and subject to such condit ions as may  be prescri bed.

 

(3)       The Ad mi ni strator shall also take such measures, as the Federal Govern ment may d i rect, to dispose of the property which is vested in the Federal Govern ment under section  10:

 

Provided that, where the property seized is perishable i n nature or subject to speedy and natu ral decay, or when  the expense of keepi ng  i t in custody  is l ikel y to exceed i ts value, the Ad mi ni strator may sell i t at once after reasonable notice to the Federal Govern men t.

12.        No civil or criminal proceedings against  banking  companies, rina ncial   institutions,  etc.,  in  certain  cases.-Save  as  otherwise  provided i n section 7, the f inancial i nsti tu tions, non-fi nancial busi nesses and professions and thei r officers shall not be l iable to any civil, criminal or disci pl inary proceedi ngs aga i nst t hem for furnishi ng information req ui red u nder this Act or the rules and reg ulations made thereunder.

 

13.        Power of survey.-( I ) Notwi thstandi ng any thing contained i n any other provisions of th is Act, where an investigati ng officer, on the basis of material i n h is possession, has reasons to believe that an offence of money  launderi ng has been commi tted, he may, with the permission of the Court, enter any place,-

 

( a)    wi th i n the li mits of the area assigned to h im ; or

 

( b)  i n respect of which he is authorized for the purposes of this section by such other authori ty who is assigned the area wi th in  wh ich such place i s situated,

 

at w h ich any act consti tuti ng the com mi ssion of such of fence is carried on, and may req u i re any proprietor, employee or any other person who may at that time and place be attendi ng i n any man ner to, or helpi ng him i n, such act so as to,-

 

(i)         affmd h im the nece>sary faci li ty to inspect such record as he may requ ire and wh ich ma:Y be available at such place;

 

(ii)         afford him the necessa,ry faci li ty to check or verify the proceeds of crimes or any tra nsaction .related to proceeds of crimes which may be found therei n ; and

 

(iii)         furnish such informat ion as he may req uire as to any matter which may be useful for, or relevan t to, any proceedi ngs under th is Act.

 

Explanation.-For the pu rpose of th is sub-sect ion , a place, where an act \V h i ch const i tutes the com mission of th e off ence i s carried on, shall also incl ude any other place, w hether any act i vi ty is carried on therei n or not, i n w h ich t he person carryi ng on such activi ty states that any of his records or any part of h is property relati ng to such act are or is kept.

 

(2)        The investigati ng off icer referred to i n sub-section ( I ), shall, after en teri ng any place referred  to i n that sub-section and wi th i n forty-eight hours i m med iatel y after completion of survey, forward a copy of the report on survey, along wi th the reasons and copies or detai ls of the material i n his possession, to the head of the concerned investigati ng agency i n a sealed envelope and shall kee p such record and material in such man ner and for such period, as may be prescri bed.

(3)        The i n vestigating officer acti ng under this s;ction may,-

 

(a)         place marks of iden tification on the records inspected by hi m and make or cause to be made ext racts or copies therefrom ;

 

(b)         make an inven tory of any property checked or verified by h im ; and

 

( c ) record the statement  of  any  person  present  i n  the  place  w h ich may be usef ul for or relevant to any proceed ing u nder this Act.

 

14.        Search  and  seizure.-(]) Subject  to  sub-sect ion  (2),  where  the i n vest i gati ng officer, on the basis of information i n h is possession, has reason to be l ieve that any person,-

 

(a)         has committed any act wh ich const itutes money-launderi ng,

 

(b)         is i n possession of any  proceeds  of  cri me  in vol ved  in  money lau nderi ng, or-

 

(c)        is i n possession of any records relati ng to money·lau nderi ng,

 

then, subject to the rules made in th is behalf , he may either authorize any off icer subord inate to h i m, or h imself to,-

 

(i) entec and 'earch any build i ng, place, ve,,el , veh icle or ai<Crnf t where he has reason to suspect that such records or proceeds of cri me are kept;

 

(ii) break open the lock of any door, box locker, safe, almirah or other receptacles for exercisi ng the powers conferred by sub-clause (i) w here the keys thereof are not available;

 

(iii)          seize any record or property fou nd as a resul t of such search;

 

(iv)          place marks of identification on such record or make, or cause to be made, extracts or copies therefrom ;

 

( v )   mak e a note or any inventory of such record property; and

 

( vi) examine on oath any person, who is found to be in possession  or control of any rt",cord or property, i n respect of all matters relevant for the purposes of any i n vestigation u nder this Act.

(2)        The powers to search under sub-section (1) shall be exercisable by the investigati ng officer with the prior permission of the Court.

 

(3)        The investigating officer shall, withi n forty-eight hours immediately after search and seizure, forward a copy of the report on search and seizure, alongwi th the reasons and copies or details of the material in his possession, to lhe head of the concerned i nvestigati ng agency i n a sealed envelope and shall keep such record and material i n such man ner and for such period as may be prescri bed.

 

(4)        Where the investi gating officer, upon informat ion obtained during survey u nder section 13, is satisfied that any evidence shall be or is likely to be concealed or tampered wi th, he may, for reasons to be recorded in writi ng, enter and search the bui lding or place where such evidence is located and seize tha t evidence.

 

(5)        The investigating officer, seizing any record OP property under this section, shall, within a period of thirty days from such seizure, file an application, request ing for reten tion of such record or property before the Court.

 

15.        Search of persons.-(1) If an investigati ng officer has reason to believe (the reason for such belief to be recorded in writing) that any person has secreted about the person or anything u nder his possession, ownership or control, any record or proceeds of crime which may be useful for or relevant to any proceed ings u nder this Act, he may, with the prior permission of the Court, search that person and seize such record or propertx which may be· useful for or relevant to any proceedi ngs under this Act.

 

(2)       The i n vestigating officer shall, within forty-eight hours immediately after search and seizure, forward a copy of the report on search and seizure, along with the reasons and copies or details of the material in his possession, to the head of the concerned investigati ng agency i n a sealed envelope and shall keep such record and material i n such man ner and for such period as may be precribed.

 

(3)        Where an i n vestigati ng officer has searched any person and if arrest of such person is necessary, he shall take such person wi thi n twenty-four hou rs to the nearest Jud icial Magistrate:

 

Provided that the period of twenty-four hours shall exclude the time necessa ry for the jou rney undertaken to take such person  to the  nearest Magi strate's Court.

 

(4)        If the requisition under sub-section (3) is made, the investigat ing . off icer shall not detain the \:)ers'on for more than twenty-four hours and if the deten tion of such person  is requi red  for more than  twen ty-four hours, the

i n vestigati ng officer shall obtain order from J udicial Magist rate which period shall i n no case exceed fifteen days.

 

(5)       The Magistrate before w hom any such person is brought shall, if

he sees no reasonable ground for search, forth with discharge such person.

 

(6)        No female shall be searched by any one except a female.

 

(7)       The investigati ng officer shall record the statement of the person searched under sub-section (1) or sub-section (5) i n respect of the records or proceeds of crime found or seized i n the cou rse of the search.

 

(8)        The investigati ng officer, seizing any record or property under sub­ section ( I ) shall, ""Withi n il period of thi rty days from such seizure. f ile an application requesting for retention of such record or propeny before the Court.

 

16.        Power to arrest.-( I ) If the i n vestigating officer or any other off icer of the agency referred to i n sub-section (2) of section 24 authori zed i n this behalf by the Federal Government, by general or special order, has, on the basis of material in his possession , reason to bel ieve (the reason for such belief to be recorded in writi hg) that any person has  been guil ty of an offence punishable under this Act, he may after obtaining warrant, from the Court or the nearest Judicial Magistrate/arrest such person and shall , as soon as may be, inform him of the grounds for such arrest.

 

(2)       The investigating officer or any other officer, as the case may be, shall, immediately after arrest of such person under sub-sect ion ( I ) forv.·ard a copy of the order along with the copies or details of the material i n his possession referred to i n that sub-section to the head of the concerned investigating agency i n a sealed envelop in the manner as may be prescri bed and such agency shall keep such order and material for such period as may be prescribed.

 

(3)        Every person arrested u nder sub-section ( I ) shall within twenty­ four hours be taken to a judicial magistrate havi ng jurisd iction:

 

Provided that the period of twen ty-four hours shall exclude the ti me necessary for the journey  from the place of arrest to the Magistrate's court.

 

17.        Retention of property.-(I ) Where any property has been seized under section 14 or section 15 and the i n vestigat ing officer has, on the basi s of material i n his possession, reason to believe that such property is required to be retai ned for the purposes of investigation under section 9 such property may be ret ained for a period not exceeding ninety days from the time such property

\Vas seized:

 

Provided that the investi gating officer shall duly inform the Court about any peculiar nature of the seized property and, where necessary, seek appropriate direct ions for i ts proper care during retention.

 

(2)       The investigati ng officer, immediately after he has passed an order for retention of property for purposes of investigation under section 9, shall forward a copy of the order along wi th the copies or details of the material in his possession,  referred  to i n sub- section (1) to the head of the concerned i n vestigati ng agency, in a sealed envelop, in the manner as may be prescri bed, and the agency shall keep such record and material for such period as may be prescri bed.

 

(3)       On the expiry of the period specified under sub-section (1 ), the property shall be returned to the person from whom such property was seized u n less the Court permits retention of such property beyond the said period.

 

(4)       The Court, before authori zing the retention of such property be)'ond the period specified i n sub-section (1), shall satisfy itself that the property is priina facie invol ved in money launderi ng and the property is required for the pu rposes of i n vestigation under section 9.

 

(5)        After passing the order of forfeiture under sub-section{6) of section 9, the Court shall direct the release of all properties other than the properties i n volved i n money launderi ng to the persons from whom such properties were seized.

 

18.        Retention of records.-{I ) Where any record has been seized under section 14 or section 15 and the investigati ng officer has reason to believe that any of such records are required to be retai ned for an inquiry under this Act, he may retain such records for a period not exceeding ninety days from the ti me the record was sei:ied.

 

(2)        The person, from whom record'i were seized, shall be entitled to obtain copies of records retained under sub-section ( I ).

 

(3)       On the expiry of the period specified -under sub-s.ection ( I ), the records shall be returned to the person from whom such records were seized u nless the Court permits retention of such records beyond the said period.

(4)        The Court before authorizi ng the retention of such records beyond the period mentioned in sub-section ( l ) shall satisfy itself that the records were requi red for the Purposes of i n vestigation u nder section 9.

 

(5)        After passing of an order of forfeiture under sub-section (6) of section 9, the Court shall direct the release of the records to the person from whom such records were seized.

 

19.        Presu m ption   as  to  records   or  property   in   certain   cases.­ Where any document of public record is found in the possession or control of any person  i n  the course of a survey or a search  relati ng to any predicate offence or where  any  records  have  been  recei ved  from  any  place  outside Pakistan duly authenticated by such authority or person and in such man ner as may be prescribed in the course of proceed ings u nder this Act , the Court or the

i n vesti gating agency, as the case may be, shall-

 

(a)         presume, that the signature and every other part of such record which purports to be in the hand wri ting of any particular person or which the Court may reasonably assu me to have been signed, by or to be in the hand 'wri ti ng of, any particu lar person. is i n that person's hand writing; and i n the case of a record executed or attested, that i t was executed or attested by the person by whom i t purports to have so executed or attested; and

 

(b)         admit the document in evidence, notwi thstandi ng that it is not duly stamped, if such docu ment is otherwise admissible in evidence.

 

20.        Jurisdiction.-The Court of Session established under the Code of Criminal Procedu re, 1898 (Act V of 1898) shall, within its terri toria l jurisdiction, exercise jurisdiction to try and adjudicate the off ences pu nish abl e u nder this Act and all matters provided i n, related to or arising from this Act:

 

Provided,-

 

(a)        where the predicate offence is triable by any court other than the Court of Session, the offence of money launderi ng and all matters con nected therewith or incidental thereto shall be tried by the Court tryi ng the predicate offence; and

 

(b)         where the pred icate offence is t riable by any court inferior to the Court of Session, such predicate offence, the offence of money laundering and all matters connected therewith or incidental thereto shall be tried by the Colurt of Session.

21.        Off ences to be non-cog niza bl e and non- ba il abl e.-(1 ) Notwi thstand ing anything contained in the Code of Crimi nal Procedure, 1898 (Act V of 1898) and subject to sub-sections (2) and (3),-

 

( a)  every offence pu nishable und er this Act shall be non-cog nizable and non-bailable;                                                                           "

 

(b)            no person accused of an offence punishable u nder  this Act for a term of i mprison ment of more than t h ree years shall be released on bail or on his own bond  u nless-

 

(i)      the Publ ic Prosecutor has been given due notice; and

 

(ii)      where the Pu blic Prosec u tor opposes t he application. the Court is satisf ied t hat there are reasona ble grou nds for believi ng that he is not guilty of such offence and that he is not likely to com mi t any offence w h-i le on bail.

 

(2)        The Court shall not take cognizance of any offence punishable u nder section 4 except upon a complaint i n wri ting made by.-

 

(a)    • the investigati ng officer; or

 

(b)         any officer of the Federal Govern ment or a Provi nciu.l Government authori zed i n wri ting in th is behalf by the Federal Govern men t by a general or special order made i n this behalf by th at Governmen t:

 

Provided  that where  the person  accused  is a f inancial  insti tu tion. the i n vestigati ng officer or any other authorized officer, as the case may be shall, before filing such com plai nt. seek the approval of the concerned regulatory authority wh ich shall not wi thhold its decision for a period exceed ing sixty days.

 

(3)  The Court shall not take cognizance of any offence pu nishable u nder su b-sect ion ( I ) of section 33 except u pon a complaint i n wri t ing made by t he FMU.

 

(4)  The power and discret ion on granti ng of bai l specified in clause (b) of sub-section (1) are i n addition to the power and discretion u nder the Code of Crim i nal  Procedure,  1898 (Act V of  1898), or any other law for the time bei ng i n force on granti ng of bai l.

 

22.         A pplication of Code of Criminal Procedure, 1898 (Act V of 1898) to proceedings  before  Cou rts.-(!) The  provisions  of  the  Code  of Cr i m i na l  Procedure,  1898 ( Act V of  1898) shall, i n so far as they are not

inconsistent with the provisions of this Act, apply to arrest. bail. bonds, search, seizu re, attach n1ent, forfeiture, confiscation, i n vesti gation, prosecution and all other proceedi ngs  u nder  this Act.

 

(2)        The Federal Govern ment may appoint a person who is an ad vocate

of a High Court to be a Public Prosecutor on such· terms and conditions as may

!Je deter mi ned by it and any person so appoin ted shall be com petent to conduct 1>roceedings u nder this Act before a Court and, if so directed by the Federal CJt.1vernment. to wi thdraw such proceedi ngs:

 

Provided that a person shall not be qual if ied to be appoin ted as a Pu blic Prosecutor under this section unless he has been i n active practice as an Advocate for not J ess than seven years in t he High Court.

 

( 3) Every person appointed as a Public Prosecutor u nder this section shall be deemed to be a Public Prosecu tor wi thi n the meani ng of clause ( t ) of su b-sect i1'ln ( I ) of section 4 of the Code of Cri mi nal Procedure, 1898 ( Act V of 1898l. an1..t the provisions of that Code shall have effect accordi ngl y.

 

(4) When a Prosecutor appoin ted u nder sub-section  (I), is,  for any reason , tem1Jorar ily u nable to cond uct proceedi ngs before the Court, the proceedi ngs ·hall be conducted by such person as may be authorized i n th i s behalf by the 1Courl.

 

23.         A ppeal to High Court.-A n y person aggrieved by any f i nal decision or order of the Court may prefer an appeal  to the High Court wi th i n si xty days from rhe date of commu nication of the decision or order on any question of law or fact arh>ing out of such decision or order:

 

Provided that the  High Cou rt 1nay. i f i t is satisfied that the appellan t was prevented by suff icien t cause from fili i-tg the appeal wi thi n the said period, allow i t to be submitted with i n a further period not exceed ing sixty days.

Ex"pla11atio11.-For the purposes of th is sect ion, "High Court" means,- (a)    the High Cou rt with i n the jurisdiction of which the aggrieved party

, ord i narily  resides or carries on busi ness or personally  works  for

gain; and

 

( b) w here the Federal  Government  is the  aggrieved  party, the  H igh Cou rt wi th i n the jurisdiction of which the respondent, or i n a case w here there are more than, one respondenl. any of the respondents, ordinaril y resides or carries on busi ness or personally works for gain.

24.        Appoi ntment of investigating officers and their  powf'rs.--(1) The i n vest igating agencies, as provided i n clause U) of section 2, rnay nomi nate such persons as they thi n k  fi t to be the i n vest i gating officers under th i s A.ct

from amongst thei r of ficers.

 

( 2)   The Federal Government may, by special or general orc1 er, empo\ver

<J n of ficer not below  BPS-18 of the  Federal  Govern men t or ( r a Provi nci i.!l Govern ment to act as an i n vestigati ng officer under this Act.

 

(3)        Where any person other than a Federal or Provi ncial Go·.1ern men t Of ficer is appointed as an investigat ing officer, the Federal Govern n1en t shall also determi ne the terms and conditions of h is appoin tn1enL

 

(4)        Su bject to such cond i t ions and l i mi t ati ons as t he f ..:d e r a J Government may impose an investigati ng officer may exerci se the power<> and discharge the duties conferred or imposed on h im under thi   Act.

 

25.     Officers to assist in inquiry, etc.-The off ice r of the Fed, ra l Government, Provincial Government and local authori ties, financial insti tu t ions are hereby empowered to assist the i n vesti gating  officers  and  agencies  and other authori ties i n the enforcement of th is Act.

 

 

26.         A greem ents  wit h  foreign  cou n t r if s.-r I )  T he   Fed era l Go vern men t may en ter i n to an agreemen t on reci procJl basis wi t h the Govern men t of any cou ntry outside Paki stan for-

 

(a)         enforci ng the provisions of this Act;

 

(b)         exchange of information for the prevent ion of <tl'i)' of fence u nder this Act or u nder the correspondi ng la\'v· i n force t il   hal cou n tiy ;

 

(c)         seeking or providi ng of assistance or evidence i n respect of any offence u nder this Act or under the correspond i ng law in force i n that cou n try ; and

 

(d)         transfer of property relati ng to any offence under this Act or under the correspond ing law i n force i n that cou n try.

 

(2)       The agreement i n terms of sub-sect ion ( I ) shall be subject to such cond itions, exceptions or qualifications as may be specified i n the said agreement:

 

Provided that the agreement shall not be enforceable if it may, i n any 1nanner, be prejudicial to the sovereignty, security, national interest or public order.

 

(3)        I n  this  section  and  the  succeed i ng  sections,  unless  the  con text

otherwise requ ires,-

 

(a ) t he expression "contract ing State''mea ns any country or  place outside Pakistan in respect of which arrangements have been made by the Federal Govern ment wi th the Govern men t of such cou ntry th rough  a treaty  or otherwise;

 

(b)         the expression "identifyi ng" i ncl udes establishment of a ·proof that the property was derived from, or used in, the com mission of an offence under  section  3; and

 

(c)         "tracing" means determi ning the natu re, source, di sposi t ion , movemen t, ti tle or ownershi p of property.

 

27.         Letter of request to a contracti ng State etc.-(1) Notwi th­ stand ing anything contai ned in this Act or the Code of Cri mi nal Proced ure, 1 898 ( Act V of 1898), if, in the cou rse of an invest i gat ion i n to an offence or other proceed i ngs u nder this Act, the investigati ng officer or any off icer superior i n ran k to t he i n vestigat ing officer believes tbat any evidence is req u i red i n

con nection wi th investigation into an offence or proceed ings u nder this Act and he 1s of opinion that  such  evidence  may  be  available  i n  any  place  i n  the con tract i ng  State,  he  may,  with  t he  prior  permission   of  the  head  of  that i n ve:-.tigat ion agency, issue a letter of request to a court or an authority i n the con t racti ng State competent  to deal with  such  request  to-

 

(a)        examine facts and circumstances of the case; and

 

(b)        take such steps as he may specify i n  such letter of req uest.

 

(2) l'he letter of request shall be transmi tted i n such manner as the Federal Govern ment may specify i n this behalf.

 

( 3) Every statement recorded or document or thing recei ved u nder subsect ion( I ) shall be deemed to be the evidence collected du ri ng the cou rse of i n vesti gation.

 

28.         Assistance to a contracting State in certain cases.-Where a J etter of req uest is recei ved by the Federal Government from a court or authori ty i n a con tract i ng State requesti ng for investi gation i n to an offence or proceed ings u nder t h i s Act or u nder t he correspond i ng law i n force i n that cou n t ry, the Federal Govern men t may forward such Jetter of request to the Court or to t he authori zed officer or any authori ty under this Act as it thinks fi t for execu tion of such req uest i n accordance wi th the provisions of this Act or, in the manner ough t by the contracti ng state so long as doing so would not violate la.,.,,s of Pak istan or is. i n any manner, not prejud icial to the sovereignty. security. national i nterest or public order.

 

29.        Reciprocal arrangements for processes and assista nce for tra nsfer of accused persons.-(1) W here a Cou rt, i n rela t ion to the offence o f 1noney lau nderi ng, desires that,---

 

( a )   a summons to an accused  person:

 

(b)           warrant for the arrest of an accused person:

 

(c)            a sum mons to any person req ui ri ng him to attend and produce a docu ment or other thi ng or to produce i t, or

 

(d)           a search warrant,

 

i ucd hy it <1hal! be served or executed :.it any pl:.ice in any contracti ng State, i t shal l end -; uch surrunons or warrant i n duplicate i n such form, to such court, judge or magistrate th rough such <.iuthorities as the Federal Government niay specify i n th is beh:.ilf and that court, judge or magistrate, as the ca<;e may be, shall cause the s:.ime to he executed.

 

(2)        W here  a  Cou rt,  i n  rel ation  t o  an  off ence  pu n ishable  u nd er section 4, has recei ved  for service or execution

 

(a)         a sum mons to an accused person;

 

(b)        a warrant for the arrest of an accused person;

 

(c)        a summons to any person  requi ri ng h im to attend and produce  a document or other thi ng, or to produce it; or

 

(d)         a seaich warrant, issued by a court, judge or magistrate in a contracting State, i t shall cause the same to be served or executed as if it were a su1nmons or warrant recei ved by it from another court i n the said

terri tories for service or execution wi thi n i ts local jurisdiction; and w  here-

 

(i)      a wacrnnt of accest has been e>ecuted, the pecson arrested shall he dealt \V ith i n accordance v.-·ith the procedu re specified under

section 16;

 

(ii)      search warrant has been excculed. the thi ngs found in this search sha!l,.so far as possi ble, be deal t with i n accordance the procedure specified under section 14 <.ind 15:

 

Provided that the prov isions of th is sub-sect io_n shall not have effect i f the exercise of power thereunder is. i n an y man ner. likel y to prejudice the sovereig n ty, secu ri ty, national i n terest or puhl ic order.

 

(3)        W here a person transferred to a con1rac1i ng State pu rsua n t to suh-scct ion(2 ) i s a prisoner i n Pak istan. the Cou rt or the Federal Govern n1ent may i m pose such cond i t ions as that c ·ou rt or Govern men t deen1s fi t.

 

(4)        W here the person tran  fcrred to Pa k ista n pu rsua nt to sub-section ( I ) i s a prisoner i n a con tracti ng State. the Court i n Pakist an shall en ure that the cond itions subject 10 wh ich the prisoner -is  transferred  to  Pak ist an  are com pl ied wi th and such prisoner shal l be kept i n such custody subject to uch cond i t ions as the Federa l Govern n1ent rnay di rect i n wri ti ng.

 

30. A ttach men t, seizu re and forf eitu re etc., of property in a contracti n g State or Pa kistan.-( I ) Where the i n vestigati ng off icer has rnade an order for attach men t of any property u nder section 8 or v.·here the court has made an order confirmi.ng such attach men t or forfei t ure of any property under section 9 and such property is suspected to be i n a con tract ing state, the Court on an appl ication by t he investigat ing officer, 1nay issue a letter of request to a Cou rt or an authori ty i n the contracti ng state for execu tion of such order.

 

( 2 ) W here a letter of request is recei ved by t he Federal Govern men t from a court i n a con tracti ng State req uest i ng att achmenl or forfeiture of the propert y i n Pak ist an derived or obtained, d i rectl y or ind irect l y, by any person fron1 the co1n mi ssion of an offence under section 3 commi tted i n that contracti ng State,  the  Federa l  Gover n men t  may  forward  such  \etler  of  req uest  to  the i n vest i gating agency, as i t th i n ks f i t, for execu tion i n accordance wi th the provisions of this Act or permi t execution of the req uest in t he man ner sought by the con tracti ng state so long as doing so woul d not violate laws of Pak ist an or is, i n any man ner, not prejudicial to the sovereignty. secu rity, national interest or pu blic order.

(3)       The Federa l Govern men t may, on recei pt of a  letter  of  request under section 27 or section 28, d i rect any investigati ng agency under this Act to take a l l '-'teps necessary for traci ng and iden t if ying such property.

 

(4)       The steps referred to i n sub-ection (3) may i ncl ude any inq uiry. i n vestigation of survey in respect of any person,  pl ace, property,  assets, docu ments, books of accounts i n any bank or financial institu tion or any other re leva n t n1allers.

 

(5)        A n y inq ui ry. investi gat ion, or survey referred to in sub-section (4) shal! be carried out by an agency men t ioned i n sub-section  (3) i n accordance wi th such directions issued in accordance wi th the provi sions of this Act.

 

(6)        The provisions of this Act relati ng to attach ment, adjudication, forfeiture vesti ng of property i n the  Federal  Govern ment, survey, search  and sei zures shall apply to the property i n  respect  of  which  letter  of  request  is recei ved from a court or cont ract i ng State for attach men t or forfeiture of property.

 

31 . Procedu re in respect of letter of rcq uest.-Every letter of req uest sum mons or warrant, recei ved by the Federal Govern ment from, and every letter of request, sum mons or warran t, to be transmi tted to a con tracti ng State under thi s Act shall be transmi tted to a contracti ng State or, as the case may be, sent to the concerned Court i n Pak i stan i n such form and i n such ma n ner as the Federal Govern men t may specify i n th i s behal f.

 

32.       Pu n ish me n t   for   vex atious   su r vey    a nd    sea rch .-A n y i n vestigati ng officer exercising powers u nder thi s Act or any rules made thereu nder, who, without prior permission from the Court,-

 

(a)        surveys or searches, or causes to pe surveyed or searched, any building or place; or

 

(b)        detains or searches or arrests any person,

 

shall for every such offence be liable on conviction for imprison ment for a term which may extend to two years or fine which may extend to fifty thousand rupees or both.

 

33.       Liability for failure to file Suspicious Transaction Report and for providing false informatiOn.-( l ) Whoever wi llfull y fai ls to comply wi th the suspicio us transac tion reporti ng requi rement as provided in section 7 or gi ve false information shall be l iable for imprison ment for a term wh ich may extend to three years or with fine which may extend to one hundred thousand ru pees or both.

 

(2) In the case of the con viction of a report ing en ti ty, the concerned regulatory authori ty may also revoke i ts license or registration  or  take  such other admin ist rat ive action as i t may deem appropriate.

 

34.       Disc losu re of i nformat ion .-( I ) The di rect ors. of f i c e rs. employees and agents of any reporti ng entity, financial instit ution, non-f inancia l busi ness or profession or i n termediary w h ich report a suspicious transaction or CTR pu rsuant to this Act or any other authority, are proh i bi ted from disclosi ng, directly or indi rectly, any person i n vol ved i n the transaction that the transaction has  been  reported.

 

(2)        A violation of the sub-section (1) is a cri mi nal offence and shall be pu nishable by a maxi m u m term of three years imprison men t or a fine which may extend  to five hundred thousand rupees or both.

 

(3)        A n y conf iden tial information furnished by a fi nancial institution, non- fi na ncial busi ness u nd profession, or any other person u nder or pursuan t to t he provisions  of th is Act, shall, as far as possi ble, be kept confidential by the FM U , i n vestigation agency or officer as the case may be.

 

35.       Bar of jurisdiction.-( 1) No suit shall be brough t in any Court to set aside or mod ify any proceed i ng taken or order made under this Act and no prosecut ion, su i t or other proceedi ngs shall lie against the Federal Govern ment, or any of ficer of the Government, or FM U, i ts officers or any agency controlled or superv i sed by the Govern men t, or mem bers of the National Execu ti ve Com mi ttee or General Com mi ttee for anyth ing done or i ntended to be done in good faith u nder th is Act.

 

(2)    No Court shall have jurisdiction  to entertai n any suit or proceedings i n respect of any matter which the i n ve:»ti gat i ng of ficer and Commi ttee or the Court is empowered by or under th is Act to determi ne and no inju nction shall be gran ted by any court or other authority i n respect of any action taken  or to be taken  i n pursuance of any power conferred  by or under this Act.

36.       Notices, etc. not to be invalid on  certain  grounds.-No  notice, sum mons, order, documen t or other proceed ing, furnished or made or issued or taken or pu rported to have been furnished or made or' issued or taken in pursuance of any of the provisions of this Act shall be invalid, or shall be deemed to be invalid merel y by reason of any  mistake, defect  or omission  i n such  notice, surn mons, order, documents or other proceedings if such notice, summons, order, docu ment or other proceedi ng is in substance and effect in conformity wi th or acco