The Union Cabinet approved the promulgation of the Fugitive Economic Offenders Ordinance 2018, which would empower the government to seize the domestic assets of those deemed by a relevant court to be fugitive economic offenders.
The Ordinance has a provision for a ‘Special Court’ under the Prevention of Money-laundering Act, 2002 to declare a person as a Fugitive Economic Offender.
Source- The Hindu
Static/Current Takeaways Important for NABARD Grade-A Exam 2018-
- An ordinance is an executive order issued by the President of India — on the recommendation of the Union Cabinet — that holds the same force as an Act passed by Parliament.
