Whoever commits the offence of money-laundering shall be punishable with rigorous imprisonment for a term which shall not be less than three years but which may extend to seven years and shall also be liable to fine¹ ***:

Provided that where the proceeds of crime involved in money-laundering relates to any offence specified under paragraph 2 of Part A of the Schedule, the provisions of this section shall have effect as if for the words "which may extend to seven years ", the words "which may extend to ten years " had been substituted.

1. The words "which may extend to five lakh rupees " omitted by s. 4, ibid. (w.e.f. 15-2-2013).