Reporting entity to maintain records.

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.... clause (b), in such manner as to enable it to reconstruct individual transactions; (b) furnish to the Director within such time as may be prescribed, information relating to such transactions, whether attempted or executed, the nature and value of which may be prescribed; ^2[****] (e) maintain record of documents evidencing identity of its clients and beneficial owners as well as account....

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....       ------------------ Notes:- 1. Substituted Vide Prevention of Money-laundering (Amendment) Act, 2012, w.e.f. 15-2-2013. Before Substitution it was read as Prevention of Money-laundering (Amendment) Act, 2009, w.e.f. 1-6-2009, read as under : "12. Banking companies, financial institutions and intermediaries to maintain records.-(1) Every banking company, fin....

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....ed to each other have been valued below the prescribed value so as to defeat the provisions of this section, such officer shall furnish information in respect of such transactions to the Director within the prescribed time. (2)(a) The records referred to in clause (a) of sub-section (1) shall be maintained for a period of ten years from the date of transactions between the clients and the banki....