The proposed monthly bill enables the Financial Intelligence Unit (FIU), the premier specialised snoop wing beneath the finance ministry, to file an software for the declaration of the fugitive financial offender for the confiscation of their property.
It allows the repealed regulation to be in power with respect to some present rights.
Earlier the Finance Minister Arun Jaitley in 2017-eighteen Price vary speech has introduced that legislative alterations or perhaps a new legislation to confiscate the belongings of these fugitives.
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The proposed invoice lets the Money Intelligence System (FIU), the main technological snoop wing lower than the finance ministry, to file an software for the declaration of the fugitive financial offender for the confiscation of their belongings.
Government proposes Draft Bill on Fugitive Financial Offenders
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