1 [12A. Prohibition on financing .--(1) No person shall finance any activity which is prohibited under this Act, or under the United Nations (Security Council) Act, 1947 (43 of 1947) or any other relevant Act for the time being in force, or by an order issued under any such Act, in relation to weapons of mass destruction and their delivery systems. (2) For prevention of financing by any person of any activity which is prohibited under this Act, or under the United Nations (Security Council) Act, 1947 (43 of 1947) or any other relevant Act for the time being in force, or by an order issued under any such Act, in relation to weapons of mass destruction and their delivery systems, the Central Government shall have power to (a) freeze, seize or attach funds or other financial assets or economic resources (i) owned or controlled, wholly or jointly, directly or indirectly, by such person; or (ii) held by or on behalf of, or at the direction of, such person; or (iii) derived or generated from the funds or other assets owned or controlled, directly or indirectly, by such person; (b) prohibit any person from making funds, financial assets or economic resources or related services available for the benefit of persons related to any activity which is prohibited under this Act, or under the United Nations (Security Council) Act, 1947 (43 of 1947) or any other relevant Act for the time being in force, or by an order issued under any such Act, in relation to weapons of mass destruction and their delivery systems. (3) The Central Government may exercise its powers under this section through any authority who has been assigned the power under sub-section (1) of Section 7.]Open in Lexace · Ask the AI about this section
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