ECONOMIC OFFENCES
(INAPPLICABILITY OF LIMITATION) ACT, 1974
[Act No. 12 of Year 1974]
An Act to provide for the inapplicability
of the provisions of Chapter XXXVI of the Code of Criminal
Procedure, 1973 to certain economic offences
Be it enacted by Parliament in
the Twenty-fifth Year of the Republic of India as follows: -
1. Short title, extent and
commencement
(1) This Act may be called the
Economic Offences (Inapplicability of Limitation) Act, 1974.
(2) It extends to the
territories to which the Code of Criminal Procedure applies.
(3) It shall come into force
on the 1st day of April, 1974.
2. Chapter XXXVI of the Code of
Criminal Procedure, 1973, not to apply to certain economic
offences
Nothing in Chapter XXXVI of
the Code of Criminal Procedure, 1973, shall apply to-
(i) any offence punishable
under any of the enactments or provisions, if any, thereof,
specified in the Schedule; or
(ii) any other offence, which
under the provisions of that Code may be tried along with such
offence,
and every offence referred to
in clause (i) or in clause (ii) may be taken cognizance of by the
Court having jurisdiction as if the provisions of that Chapter were
not enacted.
Comment: Where the allegations in the
complaint disclose a prima facie case against the accused under
section 12o-B Penal Code read with section 5 of the Import and
Export Control Act, the complaint cannot be dismissed as being filed
beyond the period of limitation under section 468 Cr.P.C. in view of
this section. (1984) 2 Rec Cri R 37 (P&H)
THE SCHEDULE
[Section 2]
(1) The Indian Income Tax Act,
1922 (11 of 1922).
(1A) Clause (a) of section 63
of the Copyright Act, 1957 (14 of 1957).
(2) The Income Tax Act, 1961
(43 of 1961).
(2A) The Interest Tax Act,
1974.
(2B) The Hotel Receipts Tax
Act, 1980.
(2C) The Expenditure Tax Act,
1987.
(3) The Companies (Profits)
Surtax Act, 1964 (7 of 1964).
(4) The Wealth Tax Act, 1957
(27 of 1957).
(5) The Gift Tax Act, 1958 (18
of 1958).
(6) The Central Sales Tax Act,
1956 (74 of 1956).
(7) The Central Excises and
Salt Act, 1944 (1 of 1944).
(8) The Medicinal and Toilet
Preparations (Excise Duties) Act, 1955 (16 of 1955).
(9) The Customs Act, 1962 (52
of 1962).
(10) The Gold (Control) Act,
1968 (45 of 1968).
(11) The Imports and Exports
(Control) Act, 1947 (18 of 1947).
(12) The Foreign Exchange
Regulation Act, 1947 (7 of 1947).
(13) The Foreign Exchange
Regulation Act, 1973 (46 of 1973).
(14) The Capital Issues
(Control) Act, 1947 (29 of 1947).
(15) The Indian Stamp Act,
1899 (2 of 1899).
(16) The Emergency Risks
(Goods) Insurance Act, 1962 (62 of 1962).
(17) The Emergency Risks
(Factories) Insurance Act, 1962 (63 of 1962).
(18) The Emergency Risks
(Goods) Insurance Act, 1971 (50 of 1971).
(19) The Emergency Risks
(Undertakings) Insurance Act, 1971 (51 of 1971).
(20) The General Insurance
Business (Nationalisation) Act, 1972 (57 of 1972).
(21) The Industries (Development and Regulation) Act, 1951 (65 of 1951).