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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 2007.

Money Laundering - 4/2007-E.S - Dated:- 24-5-2007 - MINISTRY OF FINANCE (Department of Revenue) Notification No. 4/2007-E.S. New Delhi, the 24th May, 2007 G.S.R. 389(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, in consultation with the Reserve Bank of India, hereby makes the following rules further to ame .....

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y-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, - (i) in rule 2, in sub-rule (1), in clause (g), for sub-clause (c), the following sub-clauses shall be substituted, namely:- (c) appears to have no economic rationale or bona fide purpose; .....

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ted, namely :- 8. Furnishing of information to the Director. -(1) The Principal Officer of a banking company, a financial institution and an intermediary, as the case may be, shall furnish the information in respect of transactions referred to in clauses (A) and (B) of sub-rule (1) of rule 3 every month to the Director by the 15th day of the succeeding month. (2) The Principal Officer of a banking company, a financial institution and an intermediary, as the case may be, shall furnish the informa .....

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