18
Retention of records
Act: Anti-Money Laundering Act 2010
Section Provisions
ACT VII OF 2010 ACT VII OF 2010 ANTI-MONEY LAUNDERING ACT, 2010 An Act to provide for prevention of money laundering [Gazette of Pakistan, Extraordinary, Part I, 27th March 2009] No.F.9 (4)/2010-Legis., dated 27-3-2010.--The following Act of Majlis-e-Shoora (Parliament) received the assent of the President on 26th March, 2010, is hereby published for general information: Whereas, it is expedient to provide for prevention of money laundering combating financing of terrorism and forfeiture of property derived from, or involved in, money laundering or financing of terrorism and for matters connected therewith or incidental thereto; It is hereby enacted as follows:-- 18. Retention of records.--(l) Where any record has been seized under section 14 or section 15 and the Investigating Officer has reason to believe that any of such records are required to be retained for an inquiry under this Ordinance, he may retain such records for a period not exceeding ninety days from the time the record was seized. (2) The person, from whom records were seized, shall be entitled to obtain copies of records retained under subsection (1). (3) On the expiry of the period specified under subsection (1), the records shall be returned to the person from whom such records were seized unless the Court permits retention of such records beyond the said period. (4) The Court before authorizing the retention of such records beyond the period mentioned in subsection (1) shall satisfy itself that the records were required for the purposes of investigation under section 9. (5) After passing of an order of forfeiture under subsection (6) of section 9, the Court shall direct the release of the records to the person from whom such records were seized.