TMI BlogForeign Exchange Management (International Financial Services Centre) Regulations, 2015X X X X Extracts X X X X X X X X Extracts X X X X ..... Management (International Financial Services Centre) Regulations, 2015 G.S.R.No.218(E) - In exercise of the powers conferred by section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) , the Reserve Bank makes the following regulations relating to financial institutions set up in International Financial Services Centres, namely:- 1. Short title and commencement:- i. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... thout any loss of generality of the above, the expression financial institution shall include banks, non-banking financial companies, insurance companies, brokerage firms, merchant banks, investment banks, pension funds, mutual funds, trusts, exchanges, clearing houses, and any other entity that may be specified by the Government of India or a Financial Regulatory Authority. (c) Financial se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ecial Economic Zones Act, 2005 (28 of 2005). (g) IRDA shall mean mean the Insurance Regulatory and Development Authority established under the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999). (h) PFRDA shall mean the Pension Fund Regulatory and Development Authority established under the Pension Fund Regulatory and Development Authority Act, 2013 (23 of 2013). ( ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent of India or a Regulatory Authority shall be treated as a person resident outside India. 4. A financial institution or branch of a financial institution shall conduct such business in such foreign currency and with such persons, whether resident or otherwise, as the concerned Regulatory Authority may determine. 5. Subject to the provisions of Section 1(3) of the Act, and save as other ..... X X X X Extracts X X X X X X X X Extracts X X X X
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