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CMA Final · Corporate and Economic Laws · Laws and Regulations related to Anti-Money Laundering

Under the Prevention of Money-Laundering Act, 2002, the Central Government may constitute an Inter-ministerial Co-ordination Committee. Which of the following is one of the stated purposes of this Committee?

The Inter-ministerial Co-ordination Committee under Section 72A exists for inter-agency coordination, including policy co-operation and co-ordination across all relevant or competent authorities. It does not adjudicate attachments, try offences or fix fines, which belong to other authorities.

  1. AAdjudicating appeals against provisional attachment orders
  2. BPolicy co-operation and co-ordination across all relevant or competent authoritiesCorrect
  3. CTrying scheduled offences before a Special Court
  4. DFixing the quantum of fine for money-laundering offences

Explanation

Section 72A lists purposes including operational co-operation between the Government, law enforcement agencies, the FIU-India and regulators, and policy co-operation and co-ordination across all relevant or competent authorities. Adjudication of attachments, trial of offences and fixing fines are not functions of this Committee.

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