Under the Prevention of Money-laundering Act, 2002, are "precious stones" limited to diamond, emerald,…
Section 2(1)(sc) names diamond, emerald, ruby and sapphire but adds "or any such other stone as may be notified by the Central Government". The list can be extended by…
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Under the Prevention of Money-laundering Act, 2002, are "precious stones" limited to diamond, emerald, ruby, sapphire?
Answer and explanation
Correct answer B
Section 2(1)(sc) names diamond, emerald, ruby and sapphire but adds "or any such other stone as may be notified by the Central Government". The list can be extended by notification without amending the Act, but semi-precious stones are not included automatically.