The Prevention of Money Laundering (Maintenance of Records) Third Amendment Rules, 2020

The Prevention of Money Laundering (Maintenance of Records) Third Amendment Rules, 2020 • OVERVIEW MINISTRY OF FINANCE (Department of Revenu

CS Lalit Rajput

Apr 17, 2020

Last update on Apr 17, 2020

The Prevention of Money Laundering (Maintenance of Records) Third Amendment Rules, 2020 • OVERVIEW MINISTRY OF FINANCE (Department of Revenue) vide notification / Gazette id No. CG-DL-E-16042020-219065 and G.S.R. 254(E) issued and publish dated 16th April, 2020, has published the Prevention of Money-laundering (Maintenance of Records) Third Amendment Rules, 2020 in exercise of the powers conferred by section 73 read with section 11A and section 12AA of the Prevention of Money-laundering Act, 2002.

• Applicability:

They shall come into force on the date of their publication in the Official Gazette, i.e. 16th April, 2020.

• Why This Amendment?

• to amend the Prevention of Money-laundering (Maintenance of Records) Rules, 2005

• Change via this amendment

In rule 8 of the Prevention of Money Laundering (Maintenance of Records) Rules, 2005, in sub-rule (5), for the words “specified therein” the following words, brackets, letters and figure shall be substituted: - “in respect of transactions referred to in clauses (A), (B), (BA), (C) and (E) of sub rule (1) of rule 3 for the months of March 2020, April 2020 and May 2020, and in respect of transactions referred to in clauses (F) of sub rule (1) of rule 3 for the quarter January-March 2020”

• Read full notification / gazette at :

Link of Notification Disclaimer: IN NO EVENT THE AUTHOR SHALL BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL OR INCIDENTAL DAMAGE RESULTING FROM OR ARISING OUT OF OR IN CONNECTION WITH THE USE OF THIS INFORMATION.

About Author

CS Lalit Rajput

Company Secretary

Lalit Rajput is a qualified Company Secretary and graduate with 5+ years’ experience in handling Secretarial and Compliance management. Working as Proprietor at Lalit Rajput &Associates, Company Secretaries and Compliance Head at EDUXGURU. Key areas include handling Compliances related to Secretarial, Start-ups, SEBI, FEMA, Labour Laws, GST, NCLT, IPR, MCA/ROC, RTA etc. He has started his career in Adventz Group with one of leading EPC Company, Kalindee Rail Nirman - A Div. Of Texmaco Rail & Engineering Limited (erstwhile known as Kalindee Rail Nirman (Engrs.) Ltd.) and after that worked with Outcome Solutions & Services LLP, a Risk Advisory firm and S. Srinivasan & Co.,Leading Company Secretaries firm in Mumbai and Chennai. He is also an active blogger/Author at many platform and has written various articles on: Taxguru, Compliance Calendar LLP, Studycafe, Caclubindia, Casansaar, theTaxTalk, Lawyer’s Connect, IPleaders, Governance Professionals, Lawyers club India, Dealout Professionals and many more. He has also blogger at ENLIGHTEN GOVERNANCE and contributed articles in ICSI E-Corporate Manager published by ICSI Ahmadabad Chapter.