Under the Prevention of Money-laundering Act, 2002, the term "payment system operator" includes which…
Section 2(1)(rc) defines "payment system operator" as "a person who operates a payment system", and the Explanation shows that the person, including an overseas principal,…
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Under the Prevention of Money-laundering Act, 2002, the term "payment system operator" includes which of the following?
Answer and explanation
Correct answer C
Section 2(1)(rc) defines "payment system operator" as "a person who operates a payment system", and the Explanation shows that the person, including an overseas principal, may be an individual, the Karta of a Hindu undivided family, or a company, firm, association or other juridical person. Users, merchants and auditors do not operate the system.