Home India Ministry of Finance In exercise of the powers conferred by section 73 read with ...
Date: 2019-11-13 Category: Extra Ordinary State: Union Government Country: India

In exercise of the powers conferred by section 73 read with section 11A and section

Issued by Ministry of Finance · Department of Revenue

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Executive Summary & Key Takeaways

This notification, G.S.R. 840(E), issued by the Ministry of Finance, Department of Revenue on November 13, 2019, introduces the Prevention of Money-laundering Maintenance of Records Fifth Amendment Rules, 2019. These rules, effective from the date of publication in the Official Gazette, amend the Prevention of Money-laundering Maintenance of Records Rules, 2005. Specifically, they address situations where a client, having provided their Aadhaar number for identification, wishes to declare a current address different from the one in the Central Identities Data Repository. In such cases, the client may provide a self-declaration to the reporting entity. This amendment is enacted under the powers conferred by section 73, read with section 11A and section 12AA of the Prevention of Money-laundering Act, 2002. The principal rules were initially published under G.S.R. 444(E) on July 1, 2005, and last amended under G.S.R. 669(E) on September 18, 2019. The notification was issued under F. No. P12011/18/2019-ES Cell-DOR by Arvind Saran, Director, Headquarter.

Key Entities Referenced

New Delhi: Location where the notification was issued. Ministry of Finance, Department of Revenue: The government ministry and department responsible for the notification. Prevention of Moneylaundering Act, 2002: The primary legislation being amended. Prevention of Moneylaundering Maintenance of Records Rules, 2005: The specific rules being amended by this notification. Prevention of Moneylaundering Maintenance of Records Fifth Amendment Rules, 2019: The title of the new amendment rules. G.S.R. 840E: The Gazette of India Statutory Rule number for this notification. Aadhaar: A 12 digit individual identification number issued by the Unique Identification Authority of India ARVIND SARAN: Director Headquarter who signed the notification.
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