Section 2(1)(h) in Prevention of Money-Laundering (Maintenance of Records) Rules, 2005

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Union of India - Subsection

Section 2(1)(h) in Prevention of Money-Laundering (Maintenance of Records) Rules, 2005

(h)[ "transaction" means a purchase, sale, loan, pledge, gift, transfer, delivery or the arrangement thereof and includes - [Substituted by Notification No. G.S.R. 576(E), dated 27.8.2013 (w.e.f. 1.7.2005).]

(i)opening of an account;

(ii)deposits, withdrawal, exchange or transfer of funds in whatever currency, whether in cash or by cheque, payment order or other instruments or by electronic or other non-physical means;

(iii)the use of a safety deposit box or any other form of safe deposit;

(iv)entering into any fiduciary relationship;

(v)any payment made or received in whole or in part of any contractual or other legal obligation;

(vi)any payment made in respect of playing games of chance for cash or kind including such activities associated with casino; and

(vii)establishing or creating a legal person or legal arrangement.]

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Union of India - Subsection

Section 2(1)(h) in Prevention of Money-Laundering (Maintenance of Records) Rules, 2005