{"act":{"id":"finance-act-2019-no-2","short_title":"The Finance Act, 2019 (No. 2)","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2019-2020.","act_number":null,"act_year":2019,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":217,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2019-no-2/"},"unit":"section","section":{"number":"201","heading":"Insertion of new section 72A","text":"Insertion of new section 72A 201. After section 72 of the principal Act, the following section shall be inserted, namely:— \"72A. Interministerial Co-ordination Committee.—The Central Government may, by notification, constitute an Inter-ministerial Co-ordination Committee for inter-departmental and inter-agency co-ordination for the following purposes, namely:— (a) | operational co-operation between the Government, law enforcement agencies, the Financial Intelligence Unit, India and the regulators or supervisors; (b) | policy co-operation and co-ordination across all relevant or competent authorities; (c) | such consultation among the concerned authorities, the financial sector and other sectors, as are appropriate, and are related to anti money-laundering or countering the financing of terrorism laws, regulations and guidelines; (d) | development and implementing policies on anti money-laundering or countering the financing of terrorism; and (e) | any other matter as the Central Government may, by notification, specify in this behalf.\".","html":"<p><b><b>Insertion of new section 72A</b></b></p><p><b><b>201</b>. </b>After section 72 of the principal Act, the following section shall be inserted, namely:—</p><p>\"72A. <i>Interministerial Co-ordination Committee.—</i>The Central Government may, by notification, constitute an Inter-ministerial Co-ordination Committee for inter-departmental and inter-agency co-ordination for the following purposes, namely:—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>operational co-operation between the Government, law enforcement agencies, the Financial Intelligence Unit, India and the regulators or supervisors;</td></tr><tr><td>(<i>b</i>)</td><td></td><td>policy co-operation and co-ordination across all relevant or competent authorities;</td></tr><tr><td>(<i>c</i>)</td><td></td><td>such consultation among the concerned authorities, the financial sector and other sectors, as are appropriate, and are related to anti money-laundering or countering the financing of terrorism laws, regulations and guidelines;</td></tr><tr><td>(<i>d</i>)</td><td></td><td>development and implementing policies on anti money-laundering or countering the financing of terrorism; and</td></tr><tr><td>(<i>e</i>)</td><td></td><td>any other matter as the Central Government may, by notification, specify in this behalf.\".</td></tr></table></div>","words":141,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2019-no-2/section/201/","note":null,"source_note":"Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument.","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}