Eco III unit 3.docx

Consumer protection Act, 2019 The Consumer protection Act was enacted to protect the interest of consumer in India. It aims to establish authority for timely and effective administration and settlement of Consumer dispute. According to section 2, "consumer" means any person who buys good or servic...

Consumer protection Act, 2019 The Consumer protection Act was enacted to protect the interest of consumer in India. It aims to establish authority for timely and effective administration and settlement of Consumer dispute. According to section 2, "consumer" means any person who buys good or service in exchange of consideration for utilizing such good for personal use and not for purpose of resell or commercial use. 3 Tire Consumer Dispute Redressal Structure According to this Act, there are 3 tire consumer dispute redressal structure they are 1\. [District commission], which handles dispute involving Compensation claims up to [one crore rupees]. 2\. [State commission], which handles dispute involving Compensation claims [between one crore rupees and ten crore rupees]. 3\. [National commission], which handles dispute involving Compensation claims [exceeding ten crore rupees]. Each commission has defined jurisdiction power and follows a prescribed procedure for complain handling mediation and appeal process. This act gives powers to consumer court to direct the mediation cell in district, state and national level. Consumer can file claim against [manufacturers, service providers, and sellers] for defective product or different services. It clearly defines liability and expects of manufacturers, service providers and seller. This Act imposes penalties for [non compliance] with the direction of central consumer protection authority, [misleading advertisement], [adulteration], etc. The court has power to give punishment of [fines or imprisonment] for serious offences. 5 Consumer Rights Under Section 2 (9) 1\. Protection against marketing of dangerous goods. 2\. Information, right to be informed about the quality, quantity and price of goods and services. 3\. Access through a variety of goods and services and competitive price. 4\. Redressal against unfair trade practices. 5\. Awareness, right to consumer education. Prevention of money laundering Act, 2002 The prevention of money laundering act 2002 is a comprehensive legislation aimed to combat money laundering and associated financial crimes. According to section 3 of prevention of money laundering act, money laundering is defined as any person who directly or indirectly tries to engage in any activity related to the proceeds of crime as guilty of money laundering. This includes action such as hiding, processing, acquiring or using the proceeds of crime and making appear as if the money or assets were obtained legally. The crime continues as long as the person benefits from the proceeds of the crime. According to section 5, authorities can Temporarily seize properties that are to be as an outcome of money laundering, this can be done without a prior consent of the court. This also can be done without prior conviction to prevent the accuse from using or disposing of the property while the investigation is going on. The attachment can last for 180 days, which can be extended under certain conditions, authorities can attach properties even if the person hasn\'t yet been convicted for of the crime, the person whose property is attached is given a chance to present their case before the special court. According to section 17 of prevention of money laundering act, Authorities are powered to search premises and seize properties or documents related to money laundering without needing a prior permission of magistrate. This is to ensure that crucial evidence is not tampered or disturbed during the investigation. Section 44 specifies that the case of money laundering will be tried by special court designated for the purpose. These courts handle both the offences under prevention of money laundering act and related scheduled offences. This way, it is ensured that money laundering cases are dealt with specialised to judges. According to section 45, money laundering offences are serious crimes, making them cognisable offence (allowing immediate arrest without warrant) and non-bailable. According to section 70, the liability of money laundering offences can be extended to companies and their officers. If a company is involved in money laundering, the individual in charge of company can be held accountable. Under this act, the enforcement directorate was established. Objectives Of Prevention of Money Laundering Act, 2002 1\. prevent and control the problem of money laundering 2\. confiscate and seize the properties involved in money laundering 3\. Propose punishment if the convict is guilty. Under section 48 of prevention of money laundering act, designations of various authorities responsible for Enforcing the provisions of the act are given. This includes director, additional director, deputy director and assist director. These authorities have specific roles and responsibilities related to preventing money laundering, which includes investigation enforcement and administration. Under the amendment done in prevention of money laundering act, the ED can arrest politically exposed[^1^](#fn1){#fnref1.footnote-ref} person without any prior consent of magistrate. This amendment expended the definition of politically exposed person to include foreign politically exposed persons; this means that not just Indians but also those from other countries are now under scrutiny[^2^](#fn2){#fnref2.footnote-ref}. ::: {.section.footnotes} ------------------------------------------------------------------------ 1. ::: {#fn1} A politically exposed person or individuals is one who hold prominent public position such as politicians, government officials, etc.[↩](#fnref1){.footnote-back} ::: 2. ::: {#fn2} Critical observation or examination.[↩](#fnref2){.footnote-back} ::: :::