Ministry of Finance releases Prevention of Money Laundering (Maintenance of Records) Fourth Amendment Rules, 2020

Posted on    29 December 2020

The Ministry of Finance has released the Prevention of Money Laundering (Maintenance of Records) Fourth Amendment Rules, 2020. Read the official notification and all the amendments made in the Rules, below:

NOTIFICATION
New Delhi, the 28th December, 2020

G.S.R. 800(E).—In exercise of the powers conferred by sub-section (1) read with clauses (h), (i), (j) and (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 amendment to the Prevention of Money-laundering (Maintenance of Records) Rules, 2005, namely:—

 

1. (1). Short titles and commencement:

These rules may be called the Prevention of Moneylaundering (Maintenance of Records) Fourth Amendment Rules, 2020.
(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 (fa);-
(a) For the sub-clause (iii), the following sub-clause shall be substituted, namely:-

"(iii) the Central Board of Indirect Taxes and Customs, constituted under Central Boards of Revenue Act, 1963, with respect to the dealers in precious metals and precious stones."

(b) After the sub-clause (iii) as so substituted, the following sub-clause shall be inserted, namely;

"(iv) the Central Board of Indirect Taxes and Customs, constituted under Central Boards of Revenue Act, 1963, with respect to the real estate agents."

[F. No. P-12011/14/2020-ES Cell-DOR]
ARVIND SARAN, Director

Note: The principal rules were published in Gazette of India, Extraordinary, Part-II, Section 3, Sub-Section (i) vide number G.S.R. 444 (E), dated the 1st July, 2005 and were last amended by number G.S.R. 254 (E), dated the 16th April, 2020.



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