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Prevention of Money-laundering (Maintenance of Records) Third Amendment Rules, 2017

MINISTRY OF FINANCE

(Department of Revenue)

NOTIFICATION

New Delhi, the 21st August, 2017

G.S.R. 1038(E).—In exercise of the powers conferred by sub-section (1) read with clause (h), clause (i), clause (j) and clause (k) of sub-section (2) of section 73 of the Prevention of Money-laundering Act, 2002 (15 of 2003), the Central Government hereby makes the following further amendments to the Prevention of Money-laundering (Maintenance of Records) Rules, 2005, namely:-

1.(1) These rules may be called the Prevention of Money-laundering (Maintenance of Records) Third Amendment Rules, 2017.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Prevention of Money-laundering (Maintenance of Records) Rules, 2005, in rule 2, in subrule (1), in clause (fb), in the sub-clause (iii), the following proviso shall be inserted, namely:-

“Provided that this limit on balance shall not be considered while making deposits through government grants, welfare benefits and payment against procurements.”.

[Notification No. 3/2017/F.No. P.12011/11/2016-ES Cell-DoR]

BIPLAB KUMAR NASKAR,

Under Secy.

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