Section 4
Punishment for money-laundering.
The Prevention of Money-Laundering Act, 2002
About this Act
An Act to prevent money-laundering and to provide for confiscation of property derived from, or involved in, money-laundering and for matters connected therewith or incidental thereto.
Whoever commits the offence of money-laundering shall
be punishable with rigorous imprisonment for a term which shall not be less than three years but which
may extend to seven years and shall also be liable to fine1
***:
Provided that where the proceeds of crime involved in money-laundering relates to any offence specified under paragraph 2 of Part A of the Schedule, the provisions of this section shall have effect as if for the words "which may extend to seven years", the words "which may extend to ten years" had been substituted.
Provided that where the proceeds of crime involved in money-laundering relates to any offence specified under paragraph 2 of Part A of the Schedule, the provisions of this section shall have effect as if for the words "which may extend to seven years", the words "which may extend to ten years" had been substituted.
Notes
1. The words "which may extend to five lakh rupees" omitted by s. 4, ibid. (w.e.f. 15-2-2013).