Central Government notifies activities when carried out in the course of business on behalf of or for another person - S.O. 2135 (E) - Prevention of Money-Laundering
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Money laundering prevention: specified corporate and trust intermediary activities for others now fall within regulated obligations. Notification treats specified corporate and trust services carried out in the course of business on behalf of or for another person as activities within the Prevention of Money-laundering framework, including formation agent services, arranging persons to act as directors or partners, providing registered or administrative addresses, trustee functions, and nominee shareholder roles, while excluding lease-related activities with tax deduction, employee acts for employers, limited filings by certain practicing professionals, and activities defined as intermediary; the Director of the Financial Intelligence Unit, India is designated as the regulator for these activities.
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.
Money laundering prevention: specified corporate and trust intermediary activities for others now fall within regulated obligations.
Notification treats specified corporate and trust services carried out in the course of business on behalf of or for another person as activities within the Prevention of Money-laundering framework, including formation agent services, arranging persons to act as directors or partners, providing registered or administrative addresses, trustee functions, and nominee shareholder roles, while excluding lease-related activities with tax deduction, employee acts for employers, limited filings by certain practicing professionals, and activities defined as intermediary; the Director of the Financial Intelligence Unit, India is designated as the regulator for these activities.
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