Section 9(2) in Prevention of Money-Laundering (Maintenance of Records) Rules, 2005
(2)[ For the purpose of clause (a) of sub-rule (1), a reporting entity may rely on a third party subject to the conditions that-(a)the reporting entity immediately obtains necessary information of such client due diligence carried out by the third party;(b)the reporting entity takes adequate steps to satisfy itself that copies of identification data and other relevant documentation relating to the client due diligence requirements will be made available from the third party upon request without delay;(c)the reporting entity is satisfied that such third party is regulated, supervised or monitored for, and has measures in place for compliance with client due diligence and record-keeping requirements in line with the requirements and obligations under the Act;(d)the third party is not based in a country or jurisdiction assessed as high risk;(e)the reporting entity is ultimately responsible for client due diligence and undertaking enhanced due diligence measures, as applicable; and(f)where a reporting entity relies on a third party that is part of the same financial group, the Regulator may issue guidelines to consider any relaxation in the conditions (a) to (d).
