The proposed monthly invoice allows the Financial Intelligence Unit (FIU), the premier specialised snoop wing beneath the finance ministry, to file an software program for the declaration of the fugitive financial offender for the confiscation of their assets.
It permits the repealed legislation to be in energy with respect to some current rights.
Earlier the Finance Minister Arun Jaitley in 2017-eighteen Worth range speech has introduced that legislative alterations or even a new laws to confiscate the property of these fugitives.
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The proposed bill lets the Money Intelligence Device (FIU), the leading technological snoop wing less 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 Invoice on Fugitive Economic Offenders
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