Section 4A: Unexplained wealth

4A. Unexplained wealth (1) Notwithstanding section 4, where the Director-General has reasonable ground to suspect that a person has acquired unexplained wealth of 10 million rupees or more, he shall, in accordance with section 9 of the Good Governance and Integrity Reporting Act 2015, make a written report to the Agency specifying the full name and address of the person and the sum of the unexplained wealth. (2) Where a report is made under subsection (1), the sum specified in the report shall, subject to this section, not be liable to income tax. (3) Where the Integrity Reporting Board does not direct the Agency to institute action for the confiscation of the sum specified in subsection (1), wholly or partly, the Agency shall inform the Director-General, who shall as soon as is reasonably practicable, in respect of any sum specified in the report and which is not subject to confiscation, issue, notwithstanding section 123 A, an assessment in respect of that sum. (4) In this section— “Agency” means the Integrity Reporting Services Agency established under section 4 of the Good Governance and Integrity Reporting Act 2015; “Integrity Reporting Board” means the Integrity Reporting Board referred to in section 7 of the Good Governance and Integrity Reporting Act 2015. [S. 4A inserted by s. 27 (b) of Act 18 of 2016 w.e.f. 7 September 2016.]