Under the Prevention of Money-laundering Act, 2002, who is a "person carrying on designated business or…
Section 2(1)(sa)(i) includes "a person carrying on activities for playing games of chance for cash or kind", including such activities associated with a casino.…
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Under the Prevention of Money-laundering Act, 2002, who is a "person carrying on designated business or profession"?
Answer and explanation
Correct answer A
Section 2(1)(sa)(i) includes "a person carrying on activities for playing games of chance for cash or kind", including such activities associated with a casino. Stock-brokers are intermediaries, and bank and tax officers are not persons carrying on a designated business or profession.