The Law Ministry has given its concurrence to a draft Bill that will give powers to the government to confiscate property of economic offenders and defaulters who flee India, albeit with a new provision, official sources said.

It wants a “Saving Clause” to be incorporated in the Fugitive Economic Offenders Bill 2017 before it is introduced in the Lok Sabha in the ensuing winter session of Parliament, they said. A saving clause provides for certain exception(s) in a statute. It enables the repealed law to be in force with respect to some existing rights. The proposed law will be applicable in cases where the value of offences is over ₹100 crore.