Prevention of Money-laundering Maintenance of Records Amendment Rules 2019. List of documents to be submit to the reporting entity
MINISTRY OF FINANCE
(Department of Revenue)
NOTIFICATION
New Delhi, the 13th February, 2019
G.S.R. 108(E).—In exercise of the powers conferred by sub-section (1), read with clauses (i), (j), (jj), (jjj) 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 rules further to amend the Prevention of Moneylaundering (Maintenance of Records) Rules, 2005, namely:—
1. (1) These rules may be called the Prevention of Money-laundering (Maintenance of Records) Amendment
Rules, 2019.
(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 (hereinafter referred to as the said rules), in rule 2, in sub-rule (1),-
(i) for clause (aaa), the following clause shall be substituted, namely:-
‘(aaa) “Aadhaar number” shall have the meaning assigned to it in clause (a) of section 2 of the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 2016 (18 of 2016);’
(ii) clauses (aac) and (aad) shall be omitted;
(iii) in clause (d),
(a) after the words “driving licence,”, the words “proof of possession of Aadhaar number” shall be inserted;
(b) after the third proviso, the following proviso shall be inserted, namely:-
“Provided also that where the client submits his proof of possession of Aadhaar number as an officially valid document, he may submit it in such form as are issued by the Unique
Identification Authority of India;”.
3. In rule 9 of the said rules,-
(i) in sub-rule (4),-
(a) the words “who is eligible to be enrolled for an Aadhaar number,” shall be omitted;
(b) for clause (a), the following clause shall be substituted, namely:-
“(a) the Aadhaar number where he is desirous of receiving any benefit or subsidy under any scheme notified under section 7 of the Aadhaar (Targeted Delivery of Financial and Other subsidies, Benefits and Services) Act, 2016 (18 of 2016), or a copy of any other officially valid document in other cases containing details of his identity and address, and one recent photograph; and”;
(c) the first proviso shall be omitted;
(ii) sub-rule (4A) shall be omitted;
(iii) in sub-rule (5),-
(a) in the opening portion, the word, number and brackets “and 4(A)” shall be omitted;
(b) in clause (i), for the word “thump”, the word “thumb” shall be substituted;
(c) in clause (iv),-
(A) for the portion starting with the words “the Aadhaar” and ending with “valid document”, the words and number “Permanent Account Number or Form No.60, as the case may be” shall be substituted;
(B) the proviso shall be omitted;
(d) in clause (v),-
(A) for the portion starting with the words “the Aadhaar number” and ending with the words “officially valid document” the words and numbers “Permanent Account Number or Form No.60, as the case may be” shall be substituted;
(B) the proviso shall be omitted;
(iv) for sub-rule (6), the following sub-rule shall be substituted, namely:-
“(6) Where the client is a company, it shall for the purposes of sub-rule (1), submit to the reporting entity the certified copies of the following documents, namely:-
(i) certificate of incorporation;
(ii) Memorandum and Articles of Association;
(iii) Permanent Account Number of the company;
(iv) a resolution from the Board of Directors and power of attorney granted to its managers, officers or employees, as the case may be, to transact on its behalf;
(v) one copy of an officially valid document containing details of identity and address, one recent photograph and Permanent Account Numbers or Form No.60 of the managers, officers or employees, as the case may be, holding an attorney to transact on the company’s behalf.”;
(v) for sub-rule (7), the following sub-rule shall be substituted, namely;-
“(7) Where the client is a partnership firm, it shall, for the purposes of sub-rule (1), submit to the reporting entity the certified copies of the following documents, namely:—
(i) registration certificate;
(ii) partnership deed;
(iii) Permanent Account Number of the partnership firm; and
(iv) one copy of an officially valid document containing details of identity and address, one recent photograph and Permanent Account Number or Form No.60 of the person holding an attorney to transact on its behalf.”;
(vi) for sub-rule (8), the following sub-rule shall be substituted, namely:-
“(8) Where the client is a trust, it shall, for the purposes of sub-rule (1), submit to the reporting entity the certified copies of the following documents, namely:—
(i) registration certificate;
(ii) trust deed;
(iii) Permanent Account Number or Form No.60 of the trust; and
(iv) one copy of an officially valid document containing details of identity and address, one recent photograph and Permanent Account Number or Form No.60 of the person holding an attorney to transact on its behalf.”;
(vii) for sub-rule (9), the following sub-rule shall be substituted, namely:-
“(9) Where the client is an unincorporated association or a body of individuals, it shall submit to the reporting entity the certified copies of the following documents, namely:—
(i) resolution of the managing body of such association or body of individuals;
(ii) Permanent account number or Form No.60 of the unincorporated association or a body of individuals;
(iii) power of attorney granted to him to transact on its behalf;
(iv) one copy of an officially valid document containing details of his identity and address, one recent photograph and Permanent Account Number or Form No.60 of the person holding an attorney to transact on its behalf; and
(v) such information as may be required by the reporting entity to collectively establish the existence of such association or body of individuals.”;
(viii) in sub-rule (14),-
(i) in clause (i) for the words, figures and brackets “and sub-rule (15)”, the words, figures and brackets “, sub-rule (15) and sub-rule (17)” shall be substituted;
(ii) for clause (ia), the following clause shall be substituted, namely:-
“(ia) The guidelines issued under clause (i) shall also include appropriate-
(A) exemptions, limitations and conditions and alternate and viable means of identification, to provide account based services to clients who are unable to undergo biometric authentication; and
(B) relaxation for continued operation of accounts for clients who are unable to provide Permanent Account Number or Form No. 60; owing to injury, illness or infirmity on account of old age or otherwise, and such like causes.”;
(iii) in clause (ii) for the words, figures and brackets “and sub-rule (15)”, the words, figures and brackets “, sub-rule (15) and sub-rule (17)” shall be substituted;
(ix) for sub-rule (15), the following sub-rule shall be substituted, namely:-
“(15) Any reporting entity, which has been issued banking license by the Reserve Bank of India, at receipt of the Aadhaar number from his client may carry out authentication of the client’s Aadhaar number using e-KYC authentication facility provided by the Unique Identification Authority of India upon receipt of the client’s declaration that he is desirous of receiving any benefit or subsidy under any scheme notified under section 7 of the Aadhaar (Targeted Delivery of Financial and Other Subsidies Benefits and Services) Act, 2016 (18 of 2016) in his account:
Provided that in cases where successful authentication of Aadhaar number using e-KYC facility has been carried out, the other officially valid document and photograph need not be submitted by the client.”;
(x) for sub-rule (16), the following sub-rule shall be substituted, namely:-
“(16) Every reporting entity shall, where its client submits his Aadhaar number, ensure such client to redact or blackout his Aadhaar number through appropriate means where the authentication of Aadhaar number is not required under sub-rule (15).”;
(xi) for sub-rule (17), the following sub-rule shall be substituted, namely:-
‘(17) (i) A client already having an account based relationship with a reporting entity, shall submit his Permanent Account Number or Form No.60, on such date as may be notified by the Central Government, failing which the account shall temporarily cease to be operational till the time the
Permanent Account Number or Form No. 60 is submitted by the client:
Provided that before temporarily ceasing operations for an account, the reporting entity shall give the client an accessible notice and a reasonable opportunity to be heard.
Explanation.– For the purpose of this clause, “temporary ceasing of operations” in relation an account means the temporary suspension of all transactions or activities in relation to that account by the reporting entity till such time the client complies with the provisions of this clause;
(ii) if a client having an existing account based relationship with a reporting entity gives in writing to the reporting entity that he does not want to submit his Permanent Account Number or Form No.60, as the case may be, the client’s account with the reporting entity shall be closed and all obligations due in relation to the account shall be appropriately settled after establishing the identity of the client in the manner as may be determined by the regulator.’;
(xii) for sub-rule (18), the following sub-rule shall be substituted, namely:-
“(18) In case of officially valid document furnished by the client does not contain updated address, the following documents shall be deemed to be officially valid documents for the limited purpose of proof of address:-
(a) utility bill which is not more than two months old of any service provider (electricity, telephone, post-paid mobile phone, piped gas, water bill);
(b) property or Municipal tax receipt;
(c) pension or family pension payment orders (PPOs) issued to retired employees by Government Departments or Public Sector Undertakings, if they contain the address;
(d) letter of allotment of accommodation from employer issued by State Government or Central Government Departments, statutory or regulatory bodies, public sector undertakings, scheduled commercial banks, financial institutions and listed companies and leave and licence agreements with such employers allotting official accommodation:
Provided that the client shall submit updated officially valid document with current address within a period of three months of submitting the above documents.”.
[F. No. P.12011/24/2017-ES Cell-DoR]
BIPLAB KUMAR NASKAR, Under Secy.
Note : The principal rules were published in Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (i) vide numbers G.S.R. 444 (E), dated the 1st July, 2005 and subsequently amended vide G.S.R. 717 (E), dated the 13th December, 2005, G.S.R. 389 (E), dated the 24th May, 2007, G.S.R. 816 (E), dated the 12th November, 2009, G.S.R. 76(E), dated the 12th February, 2010, G.S.R. 508(E), dated the 16th June, 2010, G.S.R. 980 (E), dated the 16th December, 2010, G.S.R. 481 (E), dated the 24th June, 2011, G.S.R. 576(E), dated the 27th August, 2013, G.S.R. 288(E), dated the 15th April, 2015, G.S.R. 544(E), dated the 7th July, 2015, G.S.R. 693(E), dated the 11th September, 2015, G.S.R. 730(E), dated the 22nd September, 2015, G.S.R. 882 (E), dated the 18th November, 2015, G.S.R. 347(E), dated the 12th April, 2017, G.S.R. 538(E), dated the 1st June, 2017, G.S.R. 1038(E), dated the 21st August, 2017, G.S.R. 1057(E), dated the 23rd August, 2017, G.S.R. 1300(E), dated the 16th October, 2017, G.S.R. 1318 (E), dated the 23rd October, 2017, G.S.R. 1506(E), dated the 12th December, 2017, G.S.R. 456(E) dated 16th May 2018 and G.S.R. 1078(E) dated the 31st October, 2018
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