Amendment in Prevention of Money-laundering (Maintenance of Records of the Nature and Value of Transactions, the Procedure and Manner of Maintaining and Time for Furnishing Information and Verification and Maintenance of Records of the Identity of the Clients of the Banking Companies, Financial Institutions and Intermediaries) (Amendment) Rules, 2011. - G.S.R 481(E) - Prevention of Money-Laundering

Ministry of Finance Department of Revenue Notification New Delhi, the Dated 24-6-2011 G.S.R 481(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 rules to amend further the Prevention of Money-laundering (Maintenance of Records of the Nature and Value of Transactions, the Procedure and Manner of Maintaining and Time for Furnishing Information and Verification and Maintenance of Records of the Identity of the Clients of the Banking Companies, Financial Institutions and Intermediaries) Rules, 2005, namely:- 1. (1) These rules may be called the Prevention of Money-laundering (Maintenance of Records of the Nature and Value of Transactions, the Procedure and Manner of Maintaining and Time for Furnishing Information and Verification and Maintenance of Records of the Identity of the Clients of the Banking Companies, Financial Institutions and Intermediaries) (Amendment) Rules, 2011. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the said rules, in sub-rule (1) of rule 1, for the words and brackets Prevention of Money-laundering (Maintenance of Records of the Nature and Value of Transactions, the Procedure and Manner of Maintaining and Time for Furnishing Information and Verification and Maintenance of Records of the Identity of the Clients of the Banking Companies, Financial Institutions and Intermediaries) Rules , the words and brackets Prevention of Money-laundering (Maintenance of Records) Rules shall be substituted.