2. Definitions.-(1) In this Act, unless the context otherwise requires,-
(a) "Adjudicating Authority" means an Adjudicating Authority appointed under sub-section (1) of section 6;
(b) "Appellate Tribunal" means the Appellate Tribunal established under section 25; (c) "Assistant Director" means an Assistant Director appointed under sub-section (1) of section 49;
(d) "attachment" means prohibition of transfer, conversion, disposition or movement of property by an order issued under Chapter III;
*[(da) ''authorised person'' means an authorised person as defined in clause (c) of section 2 of the Foreign Exchange Management Act, 1999;';]
*[Inserted by Prevention of Money-laundering (Amendment) Act, 2009] (e) "banking company" means a banking company or a co-operative bank to which the Banking Regulation Act, 1949 (10 of 1949) applies and includes any bank or banking institution referred to in section 51 of that Act;
(f) "Bench" means a Bench of the Appellate Tribunal;
(g) "Chairperson" means the Chairperson of the Appellate Tribunal;
(h) "chit fund company" means a company managing, conducting or supervising, as foreman, agent or in any other capacity, chits as defined in section 2 of the Chit Funds Act, 1982 (40 of 1982);
(i) "co-operative bank" shall have the same meaning as assigned to it in clause (dd) of section 2 of the Deposit Insurance and Credit Guarantee Corporation Act, 1961 (47 of 1961);
(j) "Deputy Director" means a Deputy Director appointed under sub-section (1) of section 49; *(ja) ''designated business or profession'' means carrying on activities for playing games of chance for cash or kind, and includes such activities associated with casino or such other activities as the Central Government may, by notification, so designate, from time to time;]
*[Inserted by Prevention of Money-laundering (Amendment) Act, 2009]
(k) "Director" or "Additional Director" or "Joint Director" means a Director or Additional Director or Joint Director, as the case may be, appointed under sub-section (1) of section 49;
*[(l) "financial institution" means a financial institution as defined in clause (c) of section 45-I of the Reserve Bank of India Act, 1934 (2 of 1934) and includes a chit fund company, a co-operative bank, a housing finance institution and an authorised person, a payment system operator and a non-banking financial company; ]
*[Modified by Prevention of Money-laundering (Amendment) Act, 2009] (m) "housing finance institution" shall have the meaning as assigned to it in clause (d) of section 2 of the National Housing Bank Act, 1987 (53 of 1987);
(n) "intermediary" means a stock-broker, sub-broker, share transfer agent, banker to an issue, trustee to a trust deed, registrar to an issue, merchant banker, underwriter, portfolio manager, investment adviser and any other intermediary associated with securities market and registered under section 12 of the Securities and Exchange Board of India Act, 1992 (57 of 1992);
*(na) "investigation" includes all the proceedings under this Act conducted by the Director or by an authority authorised by the Central Government under this Act for the collection of evidence;]
*[Inserted by Prevention of Money-laundering (Amendment) Act, 2005]
(o) "Member" means a Member of the Appellate Tribunal and includes the Chairperson;
(p) "money-laundering" has the meaning assigned to it in section 3; *[(q) "non-banking financial company" shall have the same meaning as assigned to it in clause (f) of section 45-I of the Reserve Bank of India Act, 1934 (2 of 1934) ''and includes a person carrying on designated business or profession'; ]
*[Modified by Prevention of Money-laundering (Amendment) Act, 2009] (r) "notification" means a notification published in the Official Gazette;
*[(ra) ''offence of cross border implications'', means-
(i) any conduct by a person at a place outside India which constitutes an offence at that place and which would have constituted an offence specified in Part A, Part B or Part C of the Schedule, had it been committed in India and if such person remits the proceeds of such conduct or part thereof to India; or
(ii) any offence specified in Part A, Part B or Part C of the Schedule which has been committed in India and the proceeds of crime, or part thereof have been transferred to a place outside India or any attempt has been made to transfer the proceeds of crime, or part thereof from India to a place outside India.
Explanation.-Nothing contained in this clause shall adversely affect any investigation, enquiry, trial or proceeding before any authority in respect of the offences specified in Part A or Part B of the Schedule to the Act before the commencement of the Prevention of Money-laundering (Amendment) Act, 2009;
(rb) "payment system" means a system that enables payment to be effected between a payer and a beneficiary, involving clearing, payment or settlement service or all of them.
Explanation.-For the purposes of this clause, "payment system" includes the systems enabling credit card operations, debit card operations, smart card operations, money transfer operations or similar operations; (rc) "payment system operator" means a person who operates a payment system and such person includes his overseas principal.
Explanation.-For the purposes of this clause, ''overseas principal" means,-
(A) in the case of a person, being an individual, such individual residing outside India, who owns or controls or manages, directly or indirectly, the activities or functions of payment system in India;
(B) in the case of a Hindu undivided family, Karta of such Hindu undivided family residing outside India who owns or controls or manages, directly or indirectly, the activities or functions of payment system in India;
(C) in the case of a company, a firm, an association of persons, a body of individuals, an artificial juridical person, whether incorporated or not, such company, firm, association of persons, body of individuals, artificial juridical person incorporated or registered outside India or existing as such and which owns or controls or manages, directly or indirectly, the activities or functions of payment system in India;'; ]
*[Inserted by Prevention of Money-laundering (Amendment) Act, 2009] (s) "person" includes-
(i) an individual,
(ii) a Hindu undivided family,
(iii) a company,
(iv) a firm,
(v) an association of persons or a body of individuals, whether incorporated or not,
(vi) every artificial juridical person not falling within any of the preceding sub-clauses, and
(vii) any agency, office or branch owned or controlled by any of the above persons mentioned in the preceding sub-clauses; (t) "prescribed" means prescribed by rules made under this Act;
(u) "proceeds of crime" means any property derived or obtained, directly or indirectly, by any person as a result of criminal activity relating to a scheduled offence or the value of any such property;
(v) "property" means any property or assets of every description, whether corporeal or incorporeal, movable or immovable, tangible or intangible and includes deeds and instruments evidencing title to, or interest in, such property or assets, wherever loc ted;
(w) "records" include the records maintained in the form of books or stored in a computer or such other form as may be prescribed;
(x) "Schedule" means the Schedule to this Act;
*[(y) "scheduled offence" means-
(i) the offences specified under Part A of the Schedule; or
(ii) the offences specified under Part B of the Schedule if the total value involved in such offences is thirty lakh rupees or more; or
(iii) the offences specified under Part C of the Schedule.; ]
*[Modified by Prevention of Money-laundering (Amendment) Act, 2009]
(z) "Special Court" means a Court of Session designated as Special Court under sub-section (1) of section 43;
(za) "transfer" includes sale, purchase, mortgage, pledge, gift, loan or any other form of transfer of right, title, possession or lien;
(zb) "value" means the fair market value of any property on the date of its acquisition by any person, or if such date cannot be determined, the date on which such property is possessed by such person.
(2) Any reference, in this Act or the Schedule, to any enactment or any provision thereof shall, in relation to an area in which such enactment or such provision is not in force, be construed as a reference to the corresponding law or the relevant provisions of the corresponding law, if any, in force in that area.
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