Del. HC: Accrual of Cause of Action at a Place is not a Consideration for Determining Jurisdiction  ||  Mad. HC to State: Prevent use of Stickers such as ‘Police’ or ‘GOI’ on Private Vehicles  ||  Bom. HC: Magistrate Needn’t Provide Additional Reasons for Amount of Interim Compensation Awarded  ||  Del. HC: ‘THEOBROMA’ is Free to Expand its Outlets Across the Country  ||  Ker. HC: Detention Order Under KAPPA 2007 must be Confirmed Within 3 Months from Date of Execution  ||  Kar. HC: Not Every False Statement Made in Court Must be Subject to Prosecution  ||  Ker. HC: Roads are Ordinarily Deserted During Night; Likelihood of Causing Death by Accident is Less  ||  Del. HC: Severity of Offence Can’t Disentitle Foreigner to Get Parole for Filing SLP  ||  Cal. HC: Can’t Compound Proceedings u/s 138 NI Act at Revision Stage Without Complainant’s Consent  ||  Bom. HC: There Should be Some Accountability Fixed on Courts in Cases of Prolonged Incarceration    

Central Govt. notifies few activities when carried out for or on behalf of another natural or legal person in the course of business as an activity as defined in Section 2(1)(sa)(vi) of PMLA- (Ministry of Finance ) (07 Mar 2023)

MANU/REVU/0015/2023

Criminal

In exercise of the powers conferred by sub-clause (vi) of clause (sa) of sub-section (1) of section 2 of the Prevention of Money-laundering Act, 2002 (15 of 2003) (hereinafter referred to the as the Act), the Central Government hereby notifies that the following activities when carried out for or on behalf of another natural or legal person in the course of business as an activity for the purposes of said sub sub-clause, namely:-

(i) exchange between virtual digital assets and fiat currencies;

(ii) exchange between one or more forms of virtual digital assets;

(iii) transfer of virtual digital assets;

(iv) safekeeping or administration of virtual digital assets or instruments enabling control over virtual digital assets; and

(v) participation in and provision of financial services related to an issuer's offer and sale of a virtual digital asset.

Explanation:- For the purposes of this notification "virtual digital asset" shall have the same meaning assigned to it in clause (47A) of section 2 of the Income-tax Act, 1961 (43 of 1961).

Tags : LEGAL PERSON   ACTIVITY   NOTIFICATION  

Share :        

Disclaimer | Copyright 2023 - All Rights Reserved