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Indian Laws - Highlights / Catch Notes

Home Highlights December 2024 Year 2024 This

The International Financial Services Centres Authority (IFSCA) ...


IFSCA Launches 2024 Scheme for Informal Guidance on Business Activities and Legal Matters in IFSC Units.

December 4, 2024

Circulars     Indian Laws

The International Financial Services Centres Authority (IFSCA) issued the 'International Financial Services Centre Authority (Informal Guidance) Scheme, 2024' to provide a mechanism for seeking clarity and guidance on various issues pertaining to potential business activities, transactions, and legal matters under IFSCA's regulatory ambit. The scheme allows eligible persons, such as those licensed by IFSCA, intending to undertake regulated transactions, or planning to set up units in IFSC, to apply for informal guidance in the form of no-action letters or interpretive letters. The scheme outlines the application process, types of guidance, dissemination on IFSCA's website, confidentiality provisions, and the non-binding nature of the informal guidance.

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