New SIDBI Grade A New Batch Starts on Nov 18

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    Question

    Under Prevention of Money Laundering Act 2002, which of the following come under "person carrying on designated business or profession"?

    A Real estate agent Correct Answer Incorrect Answer
    B A Registrar or Sub-Registrar appointed under section 6 of the Registration Act, 1908 Correct Answer Incorrect Answer
    C Dealer in precious metals, precious stones Correct Answer Incorrect Answer
    D All a, b, c Correct Answer Incorrect Answer

    Solution

    Section 2 (sa) "person carrying on designated business or profession" means,- (i) a person carrying on activities for playing games of chance for cash or kind, and includes such activities associated with casino; (ii) a Registrar or Sub-Registrar appointed under section 6 of the Registration Act, 1908 (16 of 1908) as may be notified by the Central Government; (iii)real estate agent, as may be notified by the Central Government; (iv) dealer in precious metals, precious stones and other high value goods, as may be notified by the Central Government; (v) person engaged in safekeeping and administration of cash and liquid securities on behalf of other persons, as may be notified by the Central Government; or (vi) person carrying on such other activities as the Central Government may, by notification, so designate, from time-to time.

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