The Ministry of Finance (MoF) on May 03, 2023, issued a notification regarding the financial transactions carried out by a relevant person on behalf of his client, in the course of his or her profession, in relation to certain activities.
The following has been stated namely: -
• The financial transactions carried out by a relevant person on behalf of his client, in the course of his or her profession, in relation to the following activities: -
1. Buying and selling of any immovable property
2. Managing client money, securities, or other assets
3. Management of bank, savings, or securities accounts
4. Organisation of contributions for the creation, operation, or management of companies
5. Creation, operation, or management of companies, limited liability partnerships or trusts, and buying and selling of business entities.
shall be an activity for the purposes of Section 2(1)(sa)(vi) of the Prevention of Money-laundering Act, 2002.
[Notification No. 2036(E)]
