Due diligence for money changers: incorporated franchisees may submit incorporation documents instead of police conduct certificates. ADs Category I/II and FFMCs may accept a certified copy of the Memorandum and Articles of Association and the Certificate of Incorporation in lieu of a local police conduct certificate for agents/franchisees that are incorporated entities; other requirements in paragraph (C)4 of Annex I remain unchanged, Item No. 6 of Form RMC F should be modified for corporate franchisees, and the directions are issued under Sections 10(4) and 11(1) of FEMA, 1999 with non compliance attracting Section 11(3) penalties.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Due diligence for money changers: incorporated franchisees may submit incorporation documents instead of police conduct certificates.
ADs Category I/II and FFMCs may accept a certified copy of the Memorandum and Articles of Association and the Certificate of Incorporation in lieu of a local police conduct certificate for agents/franchisees that are incorporated entities; other requirements in paragraph (C)4 of Annex I remain unchanged, Item No. 6 of Form RMC F should be modified for corporate franchisees, and the directions are issued under Sections 10(4) and 11(1) of FEMA, 1999 with non compliance attracting Section 11(3) penalties.
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