Prevention of Money-laundering (Maintenance of Records) Third Amendment Rules, 2017 - 3/2017 - Prevention of Money-Laundering

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION NO. 3/2017 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 sub-rule (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. . [F.No. P.12011/11/2016-ES Cell-DoR] BIPLAB KUMAR NASKAR, Under Secy.