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Section 3 Prohibition of benami transactions - The Benami Transactions (Prohibition) Amendment Act 2016

What is the Provision for Prohibition of benami transactions? Section 3 of The BTP (Prohibition) Amendment Act 2016

Section 3 :  Prohibition of benami transactions

(1) No person shall enter into any benami transaction.

(2) Whoever enters into any benami transaction shall be punishable with imprisonment for a term which may extend to three years or with fine or with both.

 

 (3) Whoever enters into any benami transaction on and after the date of commencement of the Benami Transactions (Prohibition) Amendment Act, 2016, shall, notwithstanding anything contained in sub-section (2), be punishable in accordance with the provisions contained in Chapter VII

   

 

 
 

 

Benami Transactions (Prohibition) Amendment Act, 2016

CHAPTER I PRELIMINARY

Section 1 Short title and Commencement

Section 2 Definitions

CHAPTER II PROHIBITION OF BENAMI TRANSACTIONS

Section 3 Prohibition of benami transactions

Section 4 Prohibition of the right to recover property held benami

Section 5 Property held benami liable to confiscation

Section 6 Prohibition on re-transfer of property by benamidar

CHAPTER III AUTHORITIES

Section 7 Adjudicating Authority

Section 8 Composition of Authority

Section 9 Qualifications for appointment of Chairperson and Members

Section 10 Constitution of Benches of Adjudicating Authority

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