Section 110: Power to give Directive to freeze Accounts

1) The Rastra Bank may, in the following circumstances, give a directive to a bank or financial institution at any time to freeze any account not allowing any type of payment or transfer of funds in the name of any person, firm, company or institution:-

(a) In case of a request made by an authorized officer to the Rastra Bank in the course of investigation of any offence,

(b) In order to uphold national interests by preventing money laundering and terrorist financing and controlling an offence of corruption, organized crime or possible offence may be incurred in the transaction of bank and financial institutions.

2) It shall be the duty of the concerned bank or financial institution to comply with the directive given by the Rastra Bank pursuant to sub-section (1).