Insertion of new section 11A- Verification of identity by reporting entity

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....ering Act, 2002 (15 of 2002) (hereafter in this Part, referred to as the principal Act), before section 12, the following section shall be inserted, namely:- Verification of identity by reporting entity.  '11A. (1) Every reporting entity shall verify the identity of its clients and the beneficial owner, by- (a) authentication under the Aadhaar (Targeted Delivery of Financial and Othe....

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....ient to do so, by notification, permit such entity to perform authentication under clause (a): Provided further that no notification under the first proviso shall be issued without consultation with the Unique Identification Authority of India established under sub-section (1) of section 11 of the Aadhaar (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Act, 201....