https://www.taxtmi.com/circulars?id=12081 Authorised Persons in money changing activities must identify and verify the beneficial owner of clients by determining the natural person who ultimately owns or controls the client through ownership or other means; where no such person is identifiable, verification must target those exercising control by other means or senior managing officials. Trusts require identification of settlors, trustees, protectors, significant beneficiaries and any natural person exercising ultimate control. Listed companies and their majority owned subsidiaries are exempt from shareholder/beneficial owner identification. Agents and franchisees are bound by the same obligations, and franchisers must ensure their compliance. en-us Fri, 22 Feb 2013 00:00:00 +0530 Sat, 23 Feb 2013 12:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=12081 Authorised Persons in money changing activities must identify and verify the beneficial owner of clients by determining the natural person who ultimately owns or controls the client through ownership or other means; where no such person is identifiable, verification must target those exercising control by other means or senior managing officials. Trusts require identification of settlors, trustees, protectors, significant beneficiaries and any natural person exercising ultimate control. Listed companies and their majority owned subsidiaries are exempt from shareholder/beneficial owner identification. Agents and franchisees are bound by the same obligations, and franchisers must ensure their compliance. Circulars FEMA Fri, 22 Feb 2013 00:00:00 +0530 https://www.taxtmi.com/circulars?id=12081