The Department of Revenue under the Ministry of Finance notified the Prevention of Money-Laundering (PML) (Maintenance of Records) 2nd Amendment Rules, 2020.
The Ministry of Finance issued a notification on Monday, in the name of Joint Secretary of the Government so as to amend the Principal Act namely the Money-laundering (Maintenance of Records) Rules, 2005. The amendment came to be known as the Prevention of Money-Laundering (PML) (Maintenance of Records) 2nd Amendment Rules, 2020.
The notification seeks to insert in rule 8 of the Prevention of Money-laundering (Maintenance of Records) Rules, 2005, after sub-rule (4), “(5) Notwithstanding anything contained in sub-rule (1) and (3) the Reporting Officer shall furnish the information specified therein by the 30th June, 2020.”
The amendment directed the reporting officer to furnish the information latest by June 30, 2020.
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