Under the Prevention of Money-laundering Act, 2002, an "overseas principal" can manage payment system…
The Explanation to section 2(1)(rc) describes the overseas principal as one who owns, controls, or manages the payment system's activities "directly or indirectly", so…
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Under the Prevention of Money-laundering Act, 2002, an "overseas principal" can manage payment system activities:
Answer and explanation
Correct answer D
The Explanation to section 2(1)(rc) describes the overseas principal as one who owns, controls, or manages the payment system's activities "directly or indirectly", so indirect management from abroad also qualifies, not direct control alone.