Section 108A: Limitation on betting in cash

108A. Limitation on betting in cash (1) Subject to subsection (2), no person, other than through a player card or approved electronic payment method, shall place a bet in cash in excess of 50,000 rupees. (2) No person shall place a bet in cash in a casino and a Gaming House A. (3) Every licensee shall ensure that adequate controls and measures are in place to prevent a person from structuring or arranging bets in a manner intended to circumvent the threshold prescribed under subsection (1). (c) in section 108C, by adding the following new subsection, the existing provision being numbered as subsection (1) – (2) Every licensee shall ensure that adequate controls and measures are in place to prevent the risk of a person dividing, splitting or separating a transaction for the purpose of cashing out his winning. (d) in section 110 – (i) by deleting the words “in particular to” and replacing them by the words “, for the purpose of anti-money laundering and combatting the financing of terrorism and proliferation under any enactment, to, inter alia”; (ii) by repealing paragraph (d) and replacing it by the following paragraph – (d) conduct inspections and compliance audits relating to anti-money laundering and combatting the financing of terrorism and proliferation; (e) in section 155, in subsection (2), by inserting, after the words “Financial Crimes Commission Act 2023,”, the words “the Financial Intelligence and Anti-Money Laundering Act”.