CURRENT AFFAIRS

Detailed explanation-1: -The correct answer is Vinodanand Jha. Vinodanand Jha, a 1983-batch retired IRS officer has been appointed as the Chairperson of the PMLA (Prevention of Money Laundering Act) Adjudicating Authority located in Delhi. He has been serving as the Member (Finance and Accounts) in the Authority since September 2018.

Detailed explanation-2: -Adjudicating authorities, composition, powers, etc. 6. (1) The Central Government shall, by notification, appoint one or more Adjudicating Authorities to exercise jurisdiction, power and authority con- ferred by or under this Act.

Detailed explanation-3: -Section 6 of PMLA provides for appointment of adjudicating authority consisting of a Chairperson and two other members by the Central Government provided that one member each shall be a person having experience in the field of Law, Administration, Finance or Accountancy.

Detailed explanation-4: -The Prevention of Money-Laundering Bill having been passed by both the Houses of Parliament received the assent of the President on 17th January, 2003. It came on the Statute Book as THE PREVENTION OF MONEY-LAUNDERING ACT, 2002 (15 of 2003) (Came into force on 1-7-2005).