Money Laundering and Power under S.5 of PMLA, 2002

Money Laundering and Power under S.5 of PMLA, 2002

The language used in S.5 of PMLA, 2002 is that "where the Director, or any other officer not below the rank of Deputy Director authorised by him for the purposes of this section, has reason to believe (the reason for such belief to be recorded in writing), on the basis of material in his possession". S.5 (1) of PMLA, 2002 deals with provisional attachment.