{"id":196057,"date":"2018-05-17T13:13:17","date_gmt":"2018-05-17T07:43:17","guid":{"rendered":"http:\/\/www.scconline.com\/blog\/?p=196057"},"modified":"2018-07-10T10:44:58","modified_gmt":"2018-07-10T05:14:58","slug":"the-prevention-of-money-laundering-maintenance-of-records-amendment-rules-2018-notified","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2018\/05\/17\/the-prevention-of-money-laundering-maintenance-of-records-amendment-rules-2018-notified\/","title":{"rendered":"The Prevention of Money-laundering (Maintenance of Records) Amendment Rules, 2018, notified"},"content":{"rendered":"
\n

G.S.R. 456(E).<\/strong>\u2014In 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:<\/p>\n

1. (1) These rules may be called the Prevention of Money-laundering (Maintenance of Records) Amendment Rules, 2018.<\/p>\n

(2) They shall come into force on the date of their publication in the Official Gazette.<\/p>\n

2. In the Prevention of Money-laundering (Maintenance of Records) Rules, 2005, in sub-rule (14) of Rule 9, \u2013<\/p>\n

(a) in clause (i), for the words, brackets and figures \u201csub-rules (1) to (13) above\u201d, the words, brackets and figures \u201csub-rules (1) to (13) and sub-rule (15)\u201d shall be substituted;<\/p>\n

(b) after clause (i), the following clause shall be inserted, namely :<\/p>\n

\u201c(ia) The guidelines issued under clause (i) shall also include appropriate exemptions, limitations and conditions and alternate and viable means of identification, to provide account based services to clients who are unable to undergo biometric authentication owing to injury, illness or infirmity on account of old age or otherwise, and such like causes.\u201d;<\/p>\n

(c) for clause (ii), the following clause shall be substituted, namely :<\/p>\n

\u201c(ii) Every reporting entity shall formulate and implement a Client Due Diligence Programme, incorporating the requirements of sub-rules (1) to (13) and sub-rule (15) and guidelines issued under clause (i) and (ia).\u201d.<\/p>\n

[Notification No. 4\/2018\/F.No. P.12011\/11\/2016-ES Cell-DoR]<\/p>\n

Ministry of Finance<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

G.S.R. 456(E).\u2014In exercise of the powers conferred by sub-section (1) read with clause (i), clause (j), clause (jj) and clause (k) of <\/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":[19261,26324],"class_list":["post-196057","post","type-post","status-publish","format-standard","hentry","category-foreign","category-legislationupdates","tag-money-laundering","tag-prevention-of-money-laundering-maintenance-of-records-rules"],"yoast_head":"\nThe Prevention of Money-laundering (Maintenance of Records) Amendment Rules, 2018, notified | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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(1)\u2026","rel":"","context":"In "Legislation Updates"","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":241467,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/12\/29\/centre-notifies-real-estate-agents-as-persons-carrying-on-designated-businesses-or-professions\/","url_meta":{"origin":196057,"position":4},"title":"Centre notifies “Real Estate Agents” with annual turnover of Rs 20 lakhs or above as “persons carrying on designated businesses or professions” 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 "Legislation Updates"","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":196057,"position":5},"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 "Legislation Updates"","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":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/196057","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/91"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=196057"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/196057\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=196057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=196057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=196057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}