law: The Prevention of Money-Laundering Act, 2002
  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;
  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;
  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 a
  
  non-banking financial company;
  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);
  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);
  r.   "notification"
  
  means a notification published in the Official Gazette;
  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;
  a.  
  
  
  b.  
  
  
  c.  
  
  
  d.  
  
  
  e.  
  
  
  f.  
  
  
  
  
  g.  
  
  
  h.  
  
  
  i.  
  
  
  j.  
  
  
  k.  
  
  
  l.  
  
  
  m.  
  
  
  n.  
  
  
  o.  
  
  
  p.  
  
  
  q.  
  
  
  r.  
  
  
  s.  
  
  
  
  
  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;
  a.  
  
  
  b.  
  
  
  c.  
  
  
  d.  
  
  
  e.  
  
  
  f.  
  
  
  g.  
  
  
  h.  
  
  
  i.  
  
  
  
  
  j.  
  
  
  k.  
  
  
  l.  
  
  
  m.  
  
  
  n.  
  
  
  o.  
  
  
  p.  
  
  
  q.  
  
  
  r.  
  
  
  s.  
  
  
  t.  
  
  
  u.  
  
  
  v.  
  
  
  
  
  w.  
  
  
  x.  
  
  
  y.  
  
  
  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.
  1.  
  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.