Attachment and confiscation of property

16. Attachment and confiscation of property (1) No person shall hold or be in possession of any proceeds of an offence under this Act. (2) If the District Magistrate has reason to believe that the property, whether moveable or immovable, in possession of any person has been acquired by the person as a result of the commission of an offence triable under this Act, he may order attachment of such property whether or not cognizance of such offence has been taken by Special Court. (3) The provisions of the Code shall, mutatis mutandis apply to every such attachment. (4) Notwithstanding the provisions of the Code the District Magistrate may appoint an Administrator of any property attached under sub-section (2) and the Administrator shall have all the powers to administer such property in the best interest thereof. (5) The District Magistrate may provide police help to the Administrator for proper and effective administration of such property. Explanation- For the purposes of this section, "proceeds of an offence under this Act" means all property derived or obtained from the commission of an offence under this Act or has been acquired by means of funds relating to crime and shall also include cash, irrespective of the person in whose name such proceeds stand or in whose possession they are found.