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Finance Ministry Issued Notification Adding NIA, CCI, External Affairs Ministry to List of Entities with Whom ED can Share Information

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Savvy Thakur

Published on: 28 November 2022 at 21:14 IST

In accordance with the Prevention of Money Laundering Act (PMLA), the Central government amended a notification issued in 2006 on Tuesday to include 15 additional organizations on a list of organizations with which the Enforcement Directorate (ED) may share information regarding cases.

According to a notification published on November 22 by the Union Finance Ministry, the list has been modified in the public interest in exercise of its powers under Section 66 of the PMLA.

The following organizations have been added to the list of organizations with which ED can share case data:

1. NIA, or National Investigation Agency;

2. Office of the Serious Fraud Investigation (SFIO);

3. State Police Division;

4. Rule 2 of the 2005 Prevention of Money Laundering (Maintenance of Records) Rules defines the term “regulator” as follows:

5. Director General of International Trade, Department of Foreign Affairs;

7. India’s Competition Commission (CCI);

8. In the Extraordinary Gazette of India, Part-I, Section-I, under the number F.No.11/2/2009-Ad, the Government of India, Ministry of Finance, and Department of Revenue announced the formation of a Special Investigation Team. Dated May 29, 2014, E.D.;

9. Grid of National Intelligence;

10. Commission de vigilance centrale;

11. Agency for Defense Intelligence;

12. National Institute of Standards and Technology;

13. armed forces intelligence;

14. any other preliminary inquiry authority appointed with the consent of the Central Vigilance Commission, by the Disciplinary Authority, and with the prior approval of the Central Government; an inquiry authority appointed in accordance with sub-rule (2) of rule 14 of the Central Civil Services (Classification, Control, and Appeal) Rules, 1965, or the provisions of the Public Servants (Inquiries) Act, 1850 (37 of 1850);

15. Bureau of Wildlife Crime Control

According to Section 66 of the PMLA, the ED may provide information to specified organizations either directly or indirectly through a notification from the Central government.

The clause, “(1) The Director or any other authority specified by him by a general or special order in this behalf may furnish or cause to be furnished to

(ii) such other officer, authority or body performing functions under any other law as the Central Government may, if in its opinion it is necessary so to do in the public interest, specify, by notification in the Official Gazette, in this behalf, any information received or obtained by such Director or any other authority, specified by him in the performance of their functions under this Act, as may, in the opinion of the Director or the other authority, so specified by him, be necessary for the purpose of the officer, authority or body specified in clause (i) or clause (ii) to perform his or its functions under that law.”

As of not long ago, the ED was expected to share data just with the following entities:

Economic Offenses Wing of the Central Bureau of Investigation, Chief Secretaries of State governments Reserve Bank of India Department of Company Affairs Securities and Exchange Board of India Director (Financial Intelligence Unit, India, under the Ministry of Finance, Department of Revenue) Cabinet Secretariat (Research and Analysis Wing) Ministry of Home Affairs/National Security Council Secretariat/Intelligence Bureau.