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Section 10: Management of properties confiscated under this Chapter.

The Prevention of Money-Laundering Act, 2002Central Act · Act 15 of 2003

(1) The Central Government may, by order published in the Official Gazette, appoint as many of its officers (not below the rank of a Joint Secretary to the Government of India) as it thinks fit to perform the functions of an Administrator.

(2) The Administrator appointed under sub-section (1) shall receive and manage the property in relation to which an order has been made under [sub-section (5) or sub-section (6) or sub-section (7) of section 8 or section 58B or sub-section (2A) of section 60] in such manner and subject to such conditions as may be prescribed.

(3) The Administrator shall also take such measures, as the Central Government may direct, to dispose of the property which is vested in the Central Government under section 9.

Where this provision sits

ActThe Prevention of Money-Laundering Act, 2002
Section10
Marginal noteManagement of properties confiscated under this Chapter.
JurisdictionCentral
StatusIn force as published by the source

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

  • substituted. Subs. by s. 8, ibid., for "sub-section (6) of section 8" (w.e.f. 15-2-2013).

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