Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2020

Apr 15, 2020 | by Avantis RegTech Legal Research Team


Industry Specific Compliance

The Ministry of Finance on April 13, 2020, notifies the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2020 to further amend the Prevention of Money-laundering (Maintenance of Records) Rules, 2005.

The amendments are made in Rule 8 related to ‘Furnishing of information to the Director’ of the Prevention of Money-laundering (Maintenance of Records) Rules, 2005, a new sub-rule 8(5) has been inserted, stating that the Reporting Officer shall furnish the information in respect of transactions by June 30, 2020 to the Director.

This Notification shall come into force on the date of its publication in the Official Gazette that is April 15, 2020.

[Notification No. G.S.R. 251(E)]


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