Prohibition of Benami Property Transactions Act, 1988

10. Substituted by the Benami Transactions (Prohibition) Amendment Act, 2016, w.e.f. 1-11-2016. Prior to its substitution, section 5 read as under :

"5. Property held benami liable to acquisition.-(1) All properties held benami shall be subject to acquisition by such authority, in such manner and after following such procedure as may be prescribed.

(2) For the removal of doubts, it is hereby declared that no amount shall be payable for the acquisition of any property under sub-section (1)."