PAN requirement broadened to cover resident entities and their responsible officers for significant financial transactions. The amendment adds two identification categories under the PAN provisions: resident non-individuals undertaking financial transactions above a prescribed annual threshold, and specified responsible officers or persons competent to act for such entities; it also inserts the conjunctive 'or' to integrate these clauses into the clause sequence and removes the phrase 'issued in the form of a laminated card' from the Explanation to the relevant sub-section.