(l) The Central Government shall within a period of 4[one hundred and eighty days] from the date of coming into force at the Prevention of Money-laundering (Maintenance of Records) Amendment Rules, 2015 set-up a Central KYCRecords Registry having its own seal for the purpose of receiving, storing, safeguarding and retrieving electronic copies of KYC records obtained by the reporting entities from their clients in accordance with these rules.
(2) The 'Central KYC Registry shall perform the following functions and obligations, namely:-
(a) shall follow any operating instructions issued by the Regulator, consistent with the guidelines referred to in clause (g) and issue the same to implement the requirements of these rules;
(b) shall be responsible for storing, safeguarding and retrieving the KYC records and making such records available online to reporting entities or Director;
(c) shall take all precautions necessary to ensure that the electronic copies of KYCrecords are not lost, destroyed or tampered with and that sufficient back up of electronic records are available at all times at an alternative safe and secure place;
(d) shall cause an annual audit of its controls, systems, procedures and safeguards and shall undertake corrective actions for deficiencies, if any;
(e) shall provide information only to the reporting entities which are registered with it on payment of fees as specified by the Regulator;
1. Ins. by G.5.R. 538(E), dated 1st June, 2017 (w.e.f. 1-6-2017).
2. Ins. by G.S.R. 1300(E),dated 16th October, 2017 (w.e.f. 16-10-2017)
3. Ins. by G.S.R. 544(E), dated 7th July, 2015 (w.e.f. 7-7-2015).
4. Subs. by G.5.R. 882(E), dated 18th November, 2015, for "ninety days" (w.e.f. 18-11-2015).
Earlier the words "ninety days" were substituted by G.5.R. 693(E), dated 11th September, 2015 (w.e.f. 11-9-2015).
82N The Prevention of Money-laundering (Maintenance of Records) Rules. 2005 [Rule 9A
(f) shall appoint a comrliance officerwho shall be responsible for monitoring the compliance 0 the Act, the rules made and the notifications issued thereunder and also the guidelines and instructions issued bX the Central Government and the Regulator and for redressal of Clients grievances; the compliance officer shall immediately and independently report to the Central Government any non-compliance observed by him;
(g) the Regulator in consultation with the Central Govermnent and the Central KYCRecords Registry may issue guidelines to be followed by the reporting entities for filing the KYC records with the Central KYC Records Registry or any other matter in connection with or incidental thereto;
(h) the Central Government, in consultation with Regulator, may by notification in the public interest and in the interest of the regulated entities, direct that any of the provisions of rule 9 or rule 9A-
(i) shall not apply to a class or Classesof regulated entities; or
(ii) shall apply to the class or Classes of regulated entities with such exceptions, modifications and adaptations as may be specified in the notification.]