(1) No person shall hold or be in possession of any proceeds of Holding of , terrorism.
proceeds of terrorism illegal.
(2) Proceeds of terrorism, whether held by a terrorist or by any other person and whether or not such person is prosecuted or convicted under I this Ordinance, shall be liable to be forfeited to the Central ~ove-ent or the State Government, as the case may be, in the manner provided under this Chapter.
7. (I) If an officer (not below the rank of Superintendent of Police) Powera'of investigating an offence committed under this Ordinance, has reason to investigating officers.
believe that any property in relation to which an investigation is being Fi.
conducted, represents proceeds of terrorism, he shall, with the prior approval in writing of the Director General of the Police of the State in which such property is situated, make an order sizing su& property and where it is not practicable to seize such property, nuke an order of ' attachment directing that such property shall not be transferred or otherwise dealt with except with the prior permission of the officer making such order, or of the Designated Authority, or the Special Court, as the case may be, before whom the properties seized or attached are produced and a copy of such ordei shall be served on the \ person concerned.
(2) The investigating officer shall duly inform the Designated a. e Authority or, as the case may be, the Special Court, within My-eight hours of the seizure or attacbent of such property.
conEum or revoke the order of attachment so issued:
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10 THE GAZETTE OF INDIA EXTRAORDINARY [PART 11-
Provided that an opportunity of making a representation by the person whose property is being attached shall be given.
C
(4). In the case of immovable property attached by the investigating officer, it shall be deemed to have been produced before the Designated Authority or. the Special Court, as the case may be, when the investigating officer notifies his report and places it at the disposal of the Designated Authority or the Special Court, as the case may be.
(5) The investigating officer may seize and detain any cash to which this Chapter applies if he has reasonable grounds for suspecting that-
(a) i t is intended to be used for the purposes of terrorism;
(b) it forms the whole or part of the resources of an '4 ' ' organisation declared as terrorist organisation under this Ordinance:
c- - , % provided that the cash seized under this sub-section by the investigating officer shall be released'not later than the period of fortyi , eight hours beginning with the @me when.it is seized unless the matter i involving the cash i s before the,I~eiignated Authority, or as the qase -4,:. - ., may be, the Special Court .and suoh;iiuthority or, & the case may be,. .
1 the Court passes an order. allowing its retention beyond forty-eight j ! : hours.
I / j Explanation. - For, the purposes of this sub-section "cash" li: means- , .
i , (a) &i.w.and notes in any currency;
i l i A . . . , , .
1 i . +S I ! $ ' , (b) postcil'orders;
,, , '>' (c) traveller's cheques;
ill I i 1 (d) banker's drafts; and ' specify by an order made in writing.
, 8. Where any property is seized or attached in the belief that it ~orfeilure of \ constitutes proceeds of terrorism and is produced before the Designated p'oc8eds of terrorism.
Authority, it shall, on being satisfied that the said pfoperty consists of proceeds of terrorism; order forfeiture of such property, whether or not the person from whose possession it is seized or attached, is prosecuted in a Special Court for an offence under this Ordinance.