"2. (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;
[(da) “authorised person” means an authorised person as
defined in clause (c) of section 2 of the Foreign Exchange
Management Act, 1999;]* (e) "banking company" means a banking company or a co-operative bank to which the Banking Regulation Act, 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 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;
(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;
(j) "Deputy Director" means a Deputy Director appointed under sub-section (1) of section 49;
[(ja) “designated business or profession” means carrying
on activities for playing games of chance for cash or kind, and
includes such activities associated with casino or such other
activities as the Central Government may, by notification, so
designate, from time to time;]* (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 and includes a chit fund company, a
co-operative bank, a housing finance institution, [an
authorized person, a payment system operator 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;
(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;
(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 [and includes a person carrying on
designated business or profession]*;
(r) "notification" means a notification published in the Official Gazette;
[(ra) “offence of cross border implications”, means –
(i) any conduct by a person at a place outside India
which constitutes an offence at that place and which
would have constituted an offence specified in Part A, Part
B or Part C of the Schedule, had it been committed in India
and if such person remits the proceeds of such conduct or
part thereof to India; or
(ii) any offence specified in Part A , Part B or
Part C of the Schedule which has been committed in India
and the proceeds of crime, or part thereof have been
transferred to a place outside India or any attempt has
been made to transfer the proceeds of crime, or part
thereof from India to a place outside India.
Explanation:- Nothing contained in this clause shall
adversely affect any investigation, enquiry, trial or proceeding
before any authority in respect of the offences specified in
Part A or Part B of the Schedule to the Act before the
commencement of the Prevention of Money –laundering (Amendment)
Act 2009;
(rb) “payment system” means a system that enables
payment to be effected between a payer and a beneficiary,
involving clearing, payment or settlement service or all of
them.
Explanation.- For the purpose of this clause, “payment
system” includes the systems enabling credit card operations,
debit card operations, smart card operations, money transfer
operations or similar operations;
(rc) “payment system operator” means a person who
operates a payment system and such person includes his overseas
principal.
Explanation.- For the purpose of this clause, “overseas
principal” means, -
(A) in the case of a person, being an
individual, such individual residing outside India, who owns
or controls or manages, directly or indirectly, the
activities or functions of payment system in India;
(B) in the case of a Hindu undivided family,
Karta of such Hindu undivided family residing outside India
who owns or controls or manages, directly or indirectly, the
activities or functions of payment system in India;
(C) in the case of a
company, a firm, an association of persons, a body of
individuals, an artificial juridical person, whether
incorporated or not, such company, firm, association of
persons, body of individuals, artificial juridical person
incorporated or registered outside India or existing as such
and which owns or controls or manages, directly or
indirectly, the activities or functions of payment system in
India;]*
(s) "person" includes;- |
