Section 5 in Prevention of Money-Laundering (Maintenance of Records) Rules, 2005
5. [ Procedure and manner of maintaining information. [Substituted by Notification No. G.S.R. 576(E), dated 27.8.2013 (w.e.f. 1.7.2005).]
(1)Every reporting entity shall maintain information in respect of transactions with its client referred to in rule 3 in accordance with the procedure and manner as may be specified by its regulator from time to time.(2)Every reporting entity shall evolve an internal mechanism for maintaining such information in such form and manner and at such intervals as may be specified by its regulator from time to time.(3)It shall be the duty of every reporting entity, its designated director, officers and employees to observe the procedure and the manner of maintaining information as specified by its regulator under sub-rule (1).] [Substituted by Notification No. G.S.R. 576(E), dated 27.8.2013 (w.e.f. 1.7.2005).]
