Section 202 - Amendment of section 73. - Finance (No. 2) Act, 2019

Amendment of section 73. 202. In section 73 of the principal Act, in sub-section (2), after clause (jj), the following clauses shall be inserted, namely: (jja) the manner and the conditions in which authentication of the identity of clients shall be verified by the reporting entities under clause (a) of sub-section (1) of section 12AA; (jjb) the manner of identifying the ownership and financial position of the client under clause (b) of sub-section (1) of section 12AA; (jjc) additional steps to record the purpose behind conducting the specified transaction and the intended nature of the relationship between the transaction parties under clause (c) of sub-section (1) of section 12AA; (jjd) manner of increasing the future monitoring under sub-section (3) of section 12AA. .