1. Consider the following statements regarding Prevention of Money Laundering Act (PMLA).
- PMLA states that both the Adjudicating Authority and the Appellate Tribunal shall not be bound by the Code of Criminal Procedure, 1908 but by the principles of natural justice.
- Director, FIU-IND and Director (Enforcement) have been conferred with exclusive and concurrent powers under relevant sections of the Act to implement the provisions of the Act.
Choose the correct answer.