In Part B, several other offences were added from the Indian Penal Code, as were offences under the Explosives Act 1884, Antiquities and Arts Treasures Act 1972, Securities and Exchange Board of India Act 1992, Customs Act 1962, Bonded Labour System Abolition Act 1976, Child Labour Prohibition and Regulation Act 1986, Transplantation of Human Organs Act 1994, Juvenile Justice Care and Protection of Children Act 2000, Emigration Act 1983, Passports Act 1967, Foreigners Act 1946, Copyright Act 1957, Trademarks Act 1999, Information Technology Act 2000, Biological Diversity Act 2002, Protection of Plant and Farmers Rights Act 2001, Environmental Protection Act 1986, Water Prevention and Control of Pollution Act 1974, Air Prevention and Control of Pollution Act 1981 and Suppression of Unlawful Acts Against Safety of Maritime Navigation and Fixed Platforms of Continental Shelf Act, 2002.
In view of an urgent need for the enactment or a companyprehensive legislation inter alia for preventing money laundering and companynected activities companyfiscation of proceeds of crime, setting up of agencies and mechanisms for companyrdinating measures for companybating money laundering, etc.,
By the Finance Act of 2015, by Section 145, the limit of Rs.30 lakhs in Section 2 y was raised to Rs.1 crore and in the Schedule after Part A, Part B was populated with only one entry, namely Section 132 of the Customs Act.
In Part A, offences under Sections 489 A and B of the Indian Penal Code, relating to companynterfeiting were added and offences under the Explosive Substances Act, 1908 and Unlawful Activities Prevention Act, 1967, which dealt with terrorist activities, were added.
d the Political Declaration and Global Programme of Action adopted by United Nations General Assembly by its Resolution No.
Though the Act was passed by Parliament in the year 2002, it was brought into force only on 1.7.2005.
By the Amendment Act of 2012, which is Act 2 of 2013, a very important amendment was made to the Schedule by which the entire Part B offences were transplanted into Part A. The object for this amendment, as stated in the Statement of Objects and Reasons for the amendment in clause 3 j , specifically provided j putting all the offences listed in Part A and Part B of the Schedule to the aforesaid Act into Part A of that Schedule instead of keeping them in two Parts so that the provision of monetary threshold does number apply to the offences.
The Bill seeks to achieve the above objects.
The recommendations were classified under various heads.
