Section 25
Provisions of the Act not to apply to certain properties held in trust.
The Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act, 1976
About this Act
An Act to provide for the forfeiture of illegally acquired properties of smugglers and foreign exchange manipulators and for matters connected therewith or incidental thereto.
Nothing contained in
this Act shall apply in relation to any property held by a trust or an institution created or established
wholly for public, religious or charitable purposes if--
(i) such property has been so held by such trust or institution from a date prior to the commencement of this Act; or
(ii) such property is wholly traceable to any property held by such trust or institution prior to the commencement of this Act.
(i) such property has been so held by such trust or institution from a date prior to the commencement of this Act; or
(ii) such property is wholly traceable to any property held by such trust or institution prior to the commencement of this Act.