ЁЯУв Too many exams? DonтАЩt know which one suits you best? Book Your Free Expert ЁЯСЙ call Now!

    Question

    Under the amendments made to widen the scope of the

    Prevention of Money Laundering Act,the threshold of the shares relating to beneficial ownership has been reduced to _______ from 25% ?
    A 15% Correct Answer Incorrect Answer
    B 20% Correct Answer Incorrect Answer
    C 10% Correct Answer Incorrect Answer
    D 5% Correct Answer Incorrect Answer

    Solution

    Explanation: The recent amendments made to the Prevention of Money Laundering Act have lowered the threshold for beneficial ownership to 10% of shares from the earlier 25%. Reporting entities such as banks and financial institutions are mandated to identify the beneficial owners where the client is acting on behalf of its beneficial owner.

    Practice Next
    More ESIC Part B Questions

    Relevant for Exams:

    ask-question