Under PMLA operation of small bank accounts of trusts further relaxed

Under PMLA, further relaxation is given in operation of trust small bank accounts till 31st December, 2021

MINISTRY OF FINANCE
(Department of Revenue)

NOTIFICATION

New Delhi, the 30th June, 2021

G.S.R. 461(E).—In exercise of the powers conferred by clause (iiia) of sub-rule(5) of rule 9 of the Prevention of Money-laundering (Maintenance of Records) Rules, 2005, the Central Government hereby extend the period for which small account shall remain operational till 31st December, 2021.

[F.No.P-12011/18/2019-ES Cell-DOR]

RITVIK PANDEY, Jt. Secy

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Earlier Notification for extensions are as under:

MINISTRY OF FINANCE
(Department of Revenue)

NOTIFICATION

New Delhi, the 24th July, 2020

G.S.R.465(E).—In exercise of the powers conferred by clause (iiia) of sub-rule (5) of rule 9 of the Prevention of Money-laundering (Maintenance of Records) Rules, 2005, the Central Government hereby extend the period for which small account shall remain operational till 30th September, 2020.

[F.No. P-12011/18/2019-E.S.Cell-DOR]

RITVIK PANDEY, Jt.Secy.(Revenue)

Download Notification Click Here >>

MINISTRY OF FINANCE
(Department of Revenue)

NOTIFICATION

New Delhi, the 31st March, 2020

G.S.R. 228(E).—In exercise of the powers conferred by section 73 read with section 11A and section 12AA of the Prevention of Money-laundering Act, 2002 (15 of 2003), the Central Government hereby makes the following rules further to amend the Prevention of Money-laundering (Maintenance of Records) Rules, 2005, namely:—

1. (1) These rules may be called the Prevention of Money-laundering (Maintenance of Records) Amendment Rules, 2020.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Prevention of Money-laundering (Maintenance of Records) Rules, 2005, in clause (iii) to the proviso to sub-rule (5) of rule 9, the following clause shall be inserted, namely:-

“(iiia) Notwithstanding anything contained in clause (iii), the small account shall remain operational between 1st April, 2020 and 30th June 2020 and such other periods as may be notified by the Central Government.”.

[F.No. P-12011/18/2019-ES Cell-DOR]

RITVIK PANDEY, Jt. Secy.

Note:The principal rules were published in Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 444(E), dated the 1st July, 2005 and were last amended vide number G.S.R. 840(E), dated the 13th November, 2019.Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

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