Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2019

May 29, 2019 | by Avantis RegTech Legal Research Team


The Department of revenue on May 28, 2019, has published Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2019 to further amend the Prevention of Money-laundering (Maintenance of Records) Rules, 2005.

Under Rule 9(5) of the Prevention of Money-laundering (Maintenance of Records) Rules, 2005, which specifies the provisions for client due diligence, in the proviso, in clause (i), the following proviso shall be inserted, namely:

“Provided that where the individual is a prisoner in a jail, the signature or thumb print shall be affixed in presence of the officer in-charge of the jail and the said officer shall certify the same under his signature and the account shall remain operational on annual submission of certificate of proof of address issued by the officer in-charge of the jail.”

[Notification No. G.S.R. 381(E)]


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