Lok Sabha today took up the Benami Transactions (Prohibition) Amendment Bill for discussion. <br/><br/>The Bill seeks to amend the definition of benami transactions, establishes adjudicating authorities and an Appellate Tribunal to deal with benami transactions. <br/><br/>It also specifies prosecution and penalty for entering into benami transactions. <br/><br/>Moving the Bill, Finance Minister Arun Jaitley said, it will amend the Benami Transactions Prohibition Act- 1988 and properties which were acquired in the form of benami transactions will fall under its ambit. <br/><br/>He said, the purpose of the bill is to discourage the activity of acquiring the properties in the name of fictitious and other people. <br/><br/>The Minister said, the legislation has the provision of confiscating such benami assets. Mr. Jaitley added the bill is predominantly an anti- black money measure.