**Policy Summary:**
This notification, GSR 1423(E), issued by the Ministry of Finance, Department of Revenue on November 15, 2017, amends the Prevention of Money-laundering Act, 2002. Specifically, it designates real estate agents, as defined under clause (zm) of section 2 of the Real Estate (Regulation and Development) Act, 2016, as persons carrying on designated business or profession under sub-clause (iii) of clause (sa) of sub-section (1) of section 2 of the Prevention of Money-laundering Act, 2002. The notification is issued in exercise of the powers conferred by sub-clause (iii) of clause (sa) of sub-section (1) of section 2 of the Prevention of Money-laundering Act, 2002. The file number for this notification is F.No. P.12011/22/2015-S.O.(ES Cell). The Under Secretary, Biplab Kumar Naskar, signed the notification.
Key Entities Referenced
Ministry of Finance: The Indian government ministry responsible for financial matters.
Department of Revenue: A department within the Ministry of Finance.
Prevention of Moneylaundering Act, 2002: An act of the Indian Parliament to prevent money laundering and to provide for confiscation of property derived from, or involved in, money-laundering.
Real Estate Regulation and Development Act, 2016: An act of the Indian Parliament to protect home-buyers and encourage investments in the real estate industry.
Central Government: The executive authority of the Union of India.
New Delhi: The capital of India, where the notification was issued.
BIPLAB KUMAR NASKAR: Under Secretary in the Ministry issuing the notification.
The Gazette of India: A public journal and an authorized legal document of the Government of India, published weekly by the Department of Publication.
REGD. NO. D. L.-33004/99
EXTRAORDINARY
II— — (ii)
PART II—Section 3—Sub-section (ii)
PUBLISHED BY AUTHORITY
]
No. 929] NEW DELHI, WEDNESDAY, NOVEMBER 15, 2017/KARTIKA 24, 1939
वित्त ं्त रालय
(ररालजस्ि विाराल )
अविसचू नराल
नईदिल्यी,15नवम्बर,2017
स.त 8/2017
सराल.कराल.वन.1423(अ).—केन्दरी सरकरालर,िन निनवनिरालरिअविवन ं,2002(2003कराल15)क
िरालरराल2क उपिरालरराल(1)केखतड(िक)केउपखतड(iii)द्वरालररालप्रित्त वतत ोंकरालप्र न करतेहुए हअविसूवचत
करतीहै दका-ू सतपिराल(विवन ंऔरविकरालस)अविवन ं,2016(2016कराल16)क िरालरराल2केखतड( ड)के
अिीन थरालपररारालवित'ाू-सतपिरालअवाकतरालाओं'कनिन निनवनिरालरिअविवन ं,2002क िरालरराल2क उपिरालरराल
(1)केखतड(िक)केउपखतड(iii)केअिीन''अवावहतकरालरबरालर रालिृवत्त करनेिरालयराल वतत ''संझरालजरालए राल ।
[फराल.सत.पी.12011/2/2015-एस.ओ.(ईएससेय)]
वबप्य बकमंरालरनस्क र, अिरसवचि
6695 GI/2017 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)]
MINISTRY OF FINANCE
(Department of Revenue)
NOTIFICATION
New Delhi, the 15th November, 2017
No. 8/2017
G.S.R. 1423 (E).—In exercise of the powers conferred by sub-clause (iii) of clause (sa) of
sub-section (1) of section 2 of the Prevention of Money-laundering Act, 2002 (15 of 2003), the
Central Government hereby notifies that ‘real estate agents’ as defined under clause (zm) of section 2
of the Real Estate (Regulation and Development) Act, 2016 (No. 16 of 2016) shall be deemed to be a
“person carrying on designated business or profession” under sub-clause (iii) of clause (sa) of sub-
section 1 of section 2 of the Prevention of Money-laundering Act, 2002.
[F.No. P.12011/2/2015-S.O.(ES Cell)]
BIPLAB KUMAR NASKAR, Under Secy.
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