{"id":175824,"date":"2017-12-14T10:30:54","date_gmt":"2017-12-14T05:00:54","guid":{"rendered":"http:\/\/www.scconline.com\/blog\/?p=175824"},"modified":"2018-03-29T00:06:04","modified_gmt":"2018-03-28T18:36:04","slug":"prevention-money-laundering-maintenance-records-seventh-amendment-rules-2017-read-notification","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2017\/12\/14\/prevention-money-laundering-maintenance-records-seventh-amendment-rules-2017-read-notification\/","title":{"rendered":"Prevention of Money-laundering (Maintenance of Records) Seventh Amendment Rules, 2017 [Read Notification]"},"content":{"rendered":"<p style=\"text-align: center;\"><strong>NOTIFICATION<\/strong><\/p>\n<p style=\"text-align: center;\">New Delhi, the 12th December, 2017<\/p>\n<p style=\"text-align: justify;\"><strong>G.S.R. 1506(E).\u2014<\/strong> In exercise of the powers conferred by sub-section (1) read with clause (i), clause (j), clause (jj) and clause (k) of sub-section (2) of Section 73 of the Prevention of Money-laundering Act, 2002 (15 of 2003), the Central Government in consultation with the Reserve Bank of India hereby makes the following rules further to amend the Prevention of Money-laundering (Maintenance of Records) Rules, 2005, namely:\u2014<\/p>\n<p style=\"text-align: justify;\">1. (1) These rules may be called the Prevention of Money-laundering (Maintenance of Records) Seventh Amendment Rules, 2017.<\/p>\n<p style=\"text-align: justify;\">\u00a0\u00a0\u00a0 (2) They shall come into force on the date of their publication in the Official Gazette.<\/p>\n<p style=\"text-align: justify;\">2. In the Prevention of Money-laundering (Maintenance of Records) Rules, 2005, in Rule 9,\u2014<\/p>\n<p style=\"text-align: justify;\">\u00a0\u00a0\u00a0 (a) in sub-rule (17),\u2014<\/p>\n<p style=\"text-align: justify; padding-left: 30px;\">(i) in the proviso to clause (a), for the words, figures and letters \u201csubmit the Aadhaar number and Permanent Account Number by 31st December, 2017\u201d, the following words, letters and figures shall be substituted, namely:\u2014<\/p>\n<p style=\"text-align: justify; padding-left: 60px;\">\u201csubmit the Aadhaar number, and Permanent Account Number or Form No. 60, by such date as may be notified by the Central Government\u201d;<\/p>\n<p style=\"text-align: left; padding-left: 30px;\">(ii) for the proviso to clause (c), the following proviso shall be substituted, namely:\u2014<\/p>\n<p style=\"text-align: justify; padding-left: 60px;\">\u201cProvided that in case the client already having an account based relationship with reporting entities prior to the date of publication of this notification in the official Gazette fails to submit the Aadhaar number and Permanent Account Number by such date as may be notified by the Central Government, the said account shall cease to be operational till the time the Aadhaar Number and Permanent Account Number is submitted by the client.\u201d<\/p>\n<p style=\"text-align: right;\">[Notification No. 9\/2017\/F. No. P.12011\/11\/2016-ES Cell-DoR]<\/p>\n<p style=\"text-align: justify;\"><strong>Note:<\/strong> The principal rules were published in Gazette of India, Extraordinary, Part-II, Section 3, Sub-Section (i) vide number G.S.R. 444(E), dated the 1st July, 2005 and subsequently amended by number G.S.R. 717(E), dated the 13th December, 2005, number G.S.R. 389(E), dated the 24th May, 2007, number G.S.R. 816(E), dated the 12th November, 2009, number G.S.R. 76(E), dated the 12th February, 2010, number G.S.R. 508(E), dated the 16th June, 2010, number G.S.R. 980(E), dated the 16th December, 2010, number G.S.R. 481(E), dated the 24th June, 2011 and number G.S.R. 576(E), dated the 27th August, 2013, number G.S.R. 288(E), dated the 15th April, 2015, number G.S.R. 544(E), dated the 7th July, 2015, number G.S.R. 693(E), dated the 11th September, 2015, number G.S.R. 730(E), dated the 22nd September, 2015, number G.S.R. 882(E), dated the 18th November, 2015, number G.S.R. 347(E), dated the 12th April, 2017, number G.S.R. 538(E), dated the 1st June, 2017, number G.S.R. 1038(E), dated the 21st August, 2017, number G.S.R. 1057(E), dated the 23rd August, 2017, G.S.R. 1300(E), dated the 16th October, 2017 and G.S.R. 1318(E), dated the 23rd October, 2017.<\/p>\n<p style=\"text-align: right;\">Ministry of Finance<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NOTIFICATION New Delhi, the 12th December, 2017 G.S.R. 1506(E).\u2014 In exercise of the powers conferred by sub-section (1) read with clause (i), <\/p>\n","protected":false},"author":91,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[14,4],"tags":[],"class_list":["post-175824","post","type-post","status-publish","format-standard","hentry","category-foreign","category-legislationupdates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast 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annual turnover of Rs 20 lakhs or above as &#8220;persons carrying on designated businesses or professions&#8221; under PMLA, 2002; Rescinds earlier notification","author":"Bhumika Indulia","date":"December 29, 2020","format":false,"excerpt":"In exercise of the powers conferred by sub-clause (iv) of clause (sa) of sub-section (1) of section 2 of the Prevention of Money-Laundering Act, 2002, the Central Government hereby rescinds the notification of the Government of India, Ministry of Finance, Department of Revenue, No. 8\/2017, dated 15 November, 2017, published\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation 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(1)\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":175604,"url":"https:\/\/www.scconline.com\/blog\/post\/2017\/12\/13\/linking-of-aadhaar-to-bank-accounts-postponed-indefinately\/","url_meta":{"origin":175824,"position":4},"title":"Linking of Aadhaar to existing bank accounts postponed indefinitely","author":"Prachi Bhardwaj","date":"December 13, 2017","format":false,"excerpt":"On 12.12.2017, Central Government, in consultation with the Reserve Bank of India, made the Prevention of Money Laundering (Maintenance of Records) Seventh Amendment Rules, 2017, thereby\u00a0replacing the requirement\u00a0of submitting \"the Aadhaar number and Permanent Account Number by December 31, 2017\" under proviso (a) to Rule 9(17) of the Prevention of\u00a0Money\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2015\/12\/DSC_4762-e1474523869607.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":300978,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/09\/07\/mof-notifies-pmla-maintenanceofrecords-second-amendment-rules-legal-news\/","url_meta":{"origin":175824,"position":5},"title":"Principal Officer to also be a Management Level Officer vide PMLA (Maintenance of Records) Rules 2005","author":"Kriti","date":"September 7, 2023","format":false,"excerpt":"On 4-9-2023, the Ministry of Finance notified the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2023 to amend the Prevention of Money-laundering (Maintenance of Records) Rules, 2005. 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