Bare ActsThe NARCOTIC DRUGS AND PSYCHOTROPIC SUBSTANCES ACT,1985

Section 688

Definitions

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Definitions.-In this Chapter, unless the context otherwise requires'- (a) "Appellate Tribunal" means the APpellate Tribunal for Forfeited Property constituted under section 68N; O) "aisociate" in relation to a Person whose property is liable to be forfeited under this Chapter, means- (i) any individual who-had been or is residing in the residential primises (including out-houses) of such person; (ii) lny individual rvio had been or is managhg the affairs or keeping the accounts of such person; - - . - (iii) any asiriation of persons, body of individuals, partnershiP firm or Private company withh the meaning of the Companies Act' 195'6 (1 of 1956i, ofwhich such person had been or is a member' oarhter or director; (iv) any individual who had been or is a member, partner or director of-an association of persons, body of individuals, partnership firm or private co-p"tty referred to in sub-clause (iii) at any time when such perion had been or is a member, Parhrer or director of such issociatiory body, partnership firm or private comPany; (v) any perjon, who had been or is managing the affairs, or keeping th6 iccounts, of any association of persons, body of individuals, parhershiP firm oi private company referred to in sub<lause (iii); (vi) the trustee of any trust, where,- (1) the trust has been created by such person; or i2i the value of the assets contributed by such person (hcluding the value of the assett if an, contributed by him earlier) to by Act 9 of 2001, s€c. 31 (w.e.f. 2-1G2001). 44 The Narcotic Drugs and psychotropic gubstances Act, l gAS [Sec. 688 the trust amounts, on the date on which contribution is made, to not less than twenty per cent. of the value of the assets of the trust on that daie: (vii) where the competent authority, for reasons to be recorded in wnnn& conslders that any properties of such person are held on his behalf !y any.other pirion, such otter pe'rsor,; (c) "competent. authorify,, mears an officer of the tentrai Govemment aumorlsed by lt under section 6gD (d) "concealmeni,, mears the concealment or disguise of the nahrre, source, dispositior! movement or ownershii of propertv and includes the movement or. conversion of such p'ropertf bf"i"it "r* . . transmission or by any other means; (e\ ".f.reezing" means' teniporarily pronibiting the transfer, conversion, disposition or movement oi p'roperty b"y an order issued under section 68F: 1q "ide-ntrfrjrg-' includes establishment of _proof that the properry was oenved rrom, or used in, the illicit traffic: (g) "illegally acqrrired property,,, in relation to any person to whom thjs Lnaprer aPpttes, means,_ (i) any property acquired by such person, whether before or after the commencement of this Chapter, wholly or partly out of or by means of any income, earnings or assets de;iveJ or obtainei lrom or attributable to_r[the conhavention of any provisions 2[of ,... this Act or the equivalent value of such proper'ty] orl.l; (ii) any property acquired by such person, wheihei befoie or after the commencement of this Chaptet. for a consideratiory or by any means wholly or partly traceable to any property referred t6 rn suD-clause (l) or the rncome or earning from i[such property or the equivalent value of such property;'orl, 'l(ur) any properl.y acquired by such person, whether before or after the cofiunencement of the Narcotic Drugs and psychotrooic Substances (Amendmenr) Acr, 2014 (16 of 26j.4), *frotfj, oifarify ogt oj.oJ by means of any income, eamings oi assets ihe iour.L or whlch cannot be proved, or the equivalent value of such propertyl and includes- (A) any property held by such person which would have been, in retatlon to any previous holder thereof, illegally acquired property under this clause if such previous tr-otdir trai not ceased to hold it, unless such person'or any other person who held the property at any timd after such irevioud holder or, wnere there are two or more such previous holders, the lasl of such previous holders is or was a transferee in good faith for adequate consideration; L

Section 688 – The NARCOTIC DRUGS AND PSYCHOTROPIC SUBSTANCES ACT,1985 | DailyLaw.ai