What is the Provision for Prohibition of benami transactions? Section 3 of The BTP (Prohibition) Amendment Act 2016
(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
CHAPTER I PRELIMINARY
Section 1 Short title and Commencement
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