Section 71. Transitional provision

71. Transitional provision .—The Central Government may, by notification, provide that until the Adjudicating Authorities are appointed and the Appellate Tribunal is established under this Act, the Adjudicating Authority appointed under sub-section (1) of section 6 of the Money-Laundering Act, 2002 (15 of 2003) and the Appellate Tribunal established under section 25 of that Act may discharge the functions of the Adjudicating Authority and Appellate Tribunal, respectively, under this Act[1] [for Such period and in respect of such cases or class of cases as may be specified in the Said notification]. 2[ 72 .] Repeal and saving.— (1) The Benami Transactions (Prohibition of the Right to Recover Property) Ordinance, 1988 (Ord. 2 of 1988) is hereby repealed. (2) Notwithstanding such repeal, anything done or any action taken under the said Ordinance shall be deemed to have been done or taken under the corresponding provisions of this Act. 1. Ins. by S.O. 5602(E), dated 31st October, 2018 (w.e.f. 31-10-2018). 2. S. 9 renumbered as s. 72 thereof by Act 43 of 2016, s. 11 (w.e.f. 1-11-2016). STATEMENT OF OBJECTS AND REASONS To implement the recommendations of the Fifty-seventh Report of the Law Commission on Benami Transactions, the President promulgated the Benami Transactions (Prohibition of the Right to Recover Property) Ordinance, 1988, on the 19th May, 1988.