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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) 3rd Amendment Rules 2010.

Money Laundering - G.S.R. 980(E), - Dated:- 16-12-2010 - Ministry of Finance Department of Revenue Notification New Delhi, the Dated 16-12-2010 G.S.R. 980(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 amendments to the Prevention of Money-laundering (Maintenance of Records of the Nature and Value of .....

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e 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, - (a) in rule 2,- (i) after clause (b), the following clause shall be inserted, namely:- (bb) Designated Officer means any officer or a class of officers authorized by a banking company, either by name or by designation, for the purpose of opening small accounts. (ii) in clause .....

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ia or any other document as may be required by the banking companies, or financial institution or intermediary shall be substituted; (iii) after clause (fa), the following clause shall be inserted, namely:- (fb) small account means a savings account in a banking company where- (i) the aggregate of all credits in a financial year does not exceed rupees one lakh, (ii) the aggregate of all withdrawals and transfers in a month does not exceed rupees ten thousand, and (iii) the balance at any point o .....

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