Clause 191 - Insertion of new section 72A. - Finance (No. 2) Bill, 2019

Insertion of new section 72A. 191. After section 72 of the principal Act, the following section shall be inserted, namely: Inter-ministerial Co-ordination Committee. 72A. The Central Government may by notification constitute an Inter-ministerial Co-ordination Committee for inter-departmental and inter-agency co-ordination for the following purposes, namely:- (a) operational co-operation between the Government, law enforcement agencies, the Financial Intelligence Unit, India and the regulators or supervisors; (b) policy co-operation and co-ordination across all relevant or competent authorities; (c) such consultation among the concerned authorities, the financial sector and other sectors, as are appropriate, and are related to anti money-laundering or countering the financing of terrorism laws, regulations and guidelines; (d) development and implementing policies on anti money-laundering or countering the financing of terrorism; and (e) any other matter as the Central Government may, by notification, specify in this behalf. .