Notifications - Rule 6 - Retention of Records




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Home > Notifications > Rule 6 - Retention of Records

Retention of Records

Rule 6 of the Prevention of Money-laundering (Maintenance of Records of the Nature and Value of Transactions, the Procedure and Manner of Maintaining and Time for Furnishing Information and Verification and Maintenance of Records of the Identity of the Clients of the Banking Companies, Financial Institutions and Intermediaries) Rules, 2005 provides for retention of records.

"6. Retention of records - The records referred to in rule 3 shall be maintained for a period of ten years from the date of cessation of the transactions between the client and the banking company, financial institution or intermediary, as the case may be."

	Notifications >> Notification No. 9/2005 - Rules for Record Keeping and Reporting
	Notifications >> Rule 1 - Short title and commencement
	Notifications >> Rule 2 -Definitions
	Notifications >> Rule 3 - Maintenance of records of transactions
	Notifications >> Rule 4 - Records containing information
	Notifications >> Rule 7- Procedure and manner of furnishing information
	Notifications >> Rule 8 - Furnishing of information to the Director
	Notifications >> Rule 9 - Verification of the records of the identity of clients
	Notifications >> Rule 10 - Maintenance of the records of the identity of clients
	Notifications >> Rule 11 - Interpretation
	PMLA 2002 >> Section 12 - Obligations under PMLA