Request a Demo

By clicking Submit, you acknowledge that you have read and agree with the Privacy Policy
Contact Info
Unit 266, 267 & 268, Tower B1, Spaze Itech Park Sohna Road Gurugram, Haryana 122018 connect@complinity.com +91 8181 900 600
Follow Us

A Multi-Concept Theme for Digital Agencies and Startups

8181 900 600 Request a Demo Login
logo dark logo light logo
  • Products
    • Compliance Management Software
    • Contract Management Software
    • Secretarial Compliance Software
    • Litigation Management Software
    • Audit Management Software
    • Internal Financial Control Software
    • Enterprise Risk Management Software
  • Pricing
  • Industries
    • Pharmaceutical
    • Hospitality
    • BFSI
    • Manufacturing
    • NBFC
    • Renewable Energy
    • Agriculture
    • ITeS
    • Real Estate
    • Automobile
  • Legal Updates
  • Blogs
  • Videos
  • Downloads
  • Careers
Contact Sales
logo dark logo light logo
  • Products
    • Compliance Management Software
    • Contract Management Software
    • Secretarial Compliance Software
    • Litigation Management Software
    • Audit Management Software
    • Internal Financial Control Software
    • Enterprise Risk Management Software
  • Pricing
  • Industries
    • Pharmaceutical
    • Hospitality
    • BFSI
    • Manufacturing
    • NBFC
    • Renewable Energy
    • Agriculture
    • ITeS
    • Real Estate
    • Automobile
  • Legal Updates
  • Blogs
  • Videos
  • Downloads
  • Careers
Contact Sales
Mobile Logo
  • Products
    • Compliance Management Software
    • Contract Management Software
    • Secretarial Compliance Software
    • Litigation Management Software
    • Audit Management Software
    • Internal Financial Control Software
    • Enterprise Risk Management Software
  • Pricing
  • Industries
    • Pharmaceutical
    • Hospitality
    • BFSI
    • Manufacturing
    • NBFC
    • Renewable Energy
    • Agriculture
    • ITeS
    • Real Estate
    • Automobile
  • Legal Updates
  • Blogs
  • Videos
  • Downloads
  • Careers
Corporate Laws Central Ministry of Finance Prevention of Money-laundering Act, 2002

Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2023

04-Sep-2023 | G.S.R. 652(E)

Ministry of Finance has issued a Notification amending the Prevention of Money-laundering (Maintenance of Records) Rules, 2005, with the Prevention of Money-laundering (Maintenance of Records) Second Amendment Rules, 2023, effective from September 4, 2023. The key highlights of the amendment: 1. Client Due Diligence (CDD): In Rule 9, Client Due Diligence, the definition of beneficial owner for partnership firms has been updated. The beneficial owner is now defined as the natural person(s) who, either alone or together, or through one or more juridical persons, has ownership of or entitlement to more than ten percent of the capital or profits of the partnership. Control, in this context, includes the right to control the management or policy decisions. Prior to the amendment, the threshold for beneficial ownership in partnership firms was set at fifteen percent. 2. Verification of Authorized Persons: A new provision has been added after sub-rule (10) regarding the verification of authorized persons when the client is a juridical person (a legal entity like a corporation or trust). The reporting entity (such as a financial institution) is now required to verify that any person claiming to act on behalf of such a client is duly authorized. Additionally, the identity of that authorized person must be verified. For trusts, it is specified that the trustees must disclose their status at the commencement of an account-based relationship or when carrying out transactions as specified in the rules.

Upgrade to paid version to access the Notification, Circular & Rules along with the checklist

Get Legal Updates in your email

Request a Demo

Recent Posts in Corporate Laws

Corporate Laws

IFSCA Recognises Additional Certification Course for Fund Management Entity Employees

10-Aug-2026 | F. No. IFSCA-PLNP/80/2024-Capital Markets/10082026

International Financial Services Centres Authority has specified an additional certification course titled “Regulatory Framework for F

Read More
Corporate Laws

DGFT Reviews and Re-allocates Export Quota for Wheat under HS Codes 10011900 and 10019910

10-Aug-2026 | Trade Notice No. 18/2026-27

The Directorate General of Foreign Trade (DGFT) has announced a review of the utilisation of Wheat export quotas. Exporters must submit by A

Read More
Corporate Laws

IFSCA Clarifies Applicability of Implementation Services Circular to Fund Management Entities

10-Aug-2026 | F. No. IFSCA-PLNP/94/2025-Capital Markets/10082026

The International Financial Services Centres Authority (IFSCA) has clarified that the Circular dated May 12, 2026, on “Implementation

Read More
Corporate Laws

SEBI Clarifies Requirement for Linking Investor-facing Bank Accounts with “@valid” UPI IDs

10-Aug-2026 | CDSL/ADM/DP/GENRL/2026/543

SEBI has clarified that all bank accounts through which SEBI-registered intermediaries receive funds, fees or other monies from individual o

Read More

Recent Posts

Legal

Ministry of New & Renewable Energy (MNRE) Clarifies Applicability of Ministry of New & Renewable Energy (ALMM) List-II for Solar PV Cells

04-Aug-2026 | No. 283/54/2026-GRID SOLAR

The Ministry of New & Renewable Energy (MNRE) has issued a clarification on the applicability of the Ministry of New & Renewable Energy (AL

Read More
Legal

Ministry of New & Renewable Energy (MNRE) Updates Approved List of Models and Manufacturers (ALMM) List-I for Solar PV Modules – Revision-L (50)

03-Aug-2026 | No. 283/41/2024-GRID SOLAR

The Ministry of New & Renewable Energy (MNRE) has further revised the Approved List of Models and Manufacturers (ALMM) List-I for solar PV m

Read More
Industry Specific-Education

Maharashtra Government amends Private Skills Universities Act to establish Bhujbal Skill Tech University in Nashik

06-Aug-2026 | RNI No. MAHENG /2009/35528

The Government of Maharashtra has enacted the Maharashtra Private Skills Universities (Establishment and Regulation) (Third Amendment) Act,

Read More
Local laws

Maharashtra Government amends Land Revenue Code to revise penalty for illegal extraction of minerals

07-Aug-2026 | RNI No. MAHENG /2009/35528

The Government of Maharashtra has promulgated the Maharashtra Land Revenue Code (Amendment) Ordinance, 2026, amending Section 48(7) of the M

Read More
Request a Demo

Request a Demo

By clicking Submit, you acknowledge that you have read and agree with the Privacy Policy

Complinity Logo Transparent

Complinity is a comprehensive cloud-based Compliance Management Software that helps track and monitor statutory and regulatory compliances.

Quick Links
  • Compliance Software
  • Regulatory Compliance Software
  • Statutory Compliance Software
  • Compliance Tracking Software
  • Legal Updates
Contact Info
Unit 266, 267 & 268, Tower B1
Spaze Itech Park, Sohna Road
Gurugram, Haryana 122018
connect@complinity.com
+91 8181 900 600

Request a Demo

© 2026 Complinity Technologies Private Limited. | Privacy Policy | Data Processing Addendum

Design & Developed By  Infinite IT Solutions

Request a Demo

By clicking Submit, you acknowledge that you have read and agree with the Privacy Policy
Powered by EssentialPlugin

Request a Demo

By clicking Submit, you acknowledge that you have read and agree with the Privacy Policy

Thank You for your interest in Complinity. Your CV has been forwarded to HR.
In case your profile is shortlisted, HR shall contact you.