{"id":223468,"date":"2019-12-23T16:04:05","date_gmt":"2019-12-23T10:34:05","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=223468"},"modified":"2019-12-23T23:35:54","modified_gmt":"2019-12-23T18:05:54","slug":"president-grants-assent-to-the-international-financial-services-centres-authority-act-2019","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2019\/12\/23\/president-grants-assent-to-the-international-financial-services-centres-authority-act-2019\/","title":{"rendered":"President grants assent to &#8211;The International Financial Services Centres Authority Act, 2019"},"content":{"rendered":"<p style=\"text-align: justify;\">The International Financial Services Centres Authority Act, 2019 received President&#8217;s assent on 19-12-2019.<\/p>\n<div class=\"page\" title=\"Page 1\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<p style=\"text-align: justify;\">It is an Act to provide for the establishment of an Authority to develop and regulate the financial services market in the International Financial Services Centres in India and for matters connected therewith or incidental thereto.<\/p>\n<div class=\"page\" title=\"Page 2\">\n<div class=\"layoutArea\">\n<div class=\"column\">\n<p style=\"text-align: justify;\">This Act shall apply to the International Financial Services Centres set up under Section 18 of the Special Economiz Zones Act, 2005.<\/p>\n<p style=\"text-align: justify;\"><span style=\"color: #ff0000;\"><strong>*Please refer to Act here:<\/strong><\/span> <a href=\"http:\/\/egazette.nic.in\/WriteReadData\/2019\/214809.pdf\">The International Financial Services Centres Authority Act, 2019<\/a>.<\/p>\n<hr \/>\n<p><strong>Ministry of Law and Justice<\/strong><\/p>\n<p style=\"text-align: right;\"><strong>[Notification dt. 20-12-2019]<\/strong><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The International Financial Services Centres Authority Act, 2019 received President&#8217;s assent on 19-12-2019. It is an Act to provide for the establishment <\/p>\n","protected":false},"author":8808,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,13],"tags":[13531,34061,38966],"class_list":["post-223468","post","type-post","status-publish","format-standard","hentry","category-legislationupdates","category-statutes","tag-president","tag-special-economic-zones-act-2005","tag-the-international-financial-services-centres-authority-act-2019"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>President grants assent to --The International Financial Services Centres Authority Act, 2019 | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.scconline.com\/blog\/post\/2019\/12\/23\/president-grants-assent-to-the-international-financial-services-centres-authority-act-2019\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"President grants assent to --The International Financial Services Centres Authority Act, 2019\" \/>\n<meta property=\"og:description\" content=\"The International Financial Services Centres Authority Act, 2019 received President&#8217;s assent on 19-12-2019. 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Performance Review Committee is formed to review and the functions carried on by the International Financial Services Centres Authority. \u00a0 Under Section 12 of International Financial Services Centres Authority Act,\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/05\/IFSCA1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/05\/IFSCA1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/05\/IFSCA1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/05\/IFSCA1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/05\/IFSCA1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":240623,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/12\/14\/ifsca-notifies-international-financial-services-centres-authority-bullion-exchange-regulations-2020\/","url_meta":{"origin":223468,"position":2},"title":"IFSCA notifies International Financial Services Centres Authority (Bullion Exchange) Regulations, 2020","author":"Bhumika Indulia","date":"December 14, 2020","format":false,"excerpt":"In the Union Budget 2020, Union Minister of Finance Corporate Affairs Nirmala Sitharaman had made an announcement for setting up an International Bullion Exchange at the International Financial Services Centre in GIFT City, Gandhinagar, Gujarat. Subsequently, the Government of India had notified the bullion spot delivery contract and bullion depository\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":222366,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/11\/21\/cabinet-approves-introduction-of-international-financial-services-centres-authority-bill-2019-in-lok-sabha-after-withdrawal-from-rajya-sabha\/","url_meta":{"origin":223468,"position":3},"title":"Cabinet approves introduction of International Financial Services Centres Authority Bill, 2019 in Lok Sabha, after withdrawal from Rajya Sabha","author":"Bhumika Indulia","date":"November 21, 2019","format":false,"excerpt":"The Union Cabinet approved for withdrawing of the International Financial Services Centres Authority, 2019 Bill which was introduced in the Rajya Sabha on 12thFebruary, 2019 and pending in the Rajya Sabha and introducing the International Financial Services Centres Authority Bill, 2019 in the Lok Sabha in the ensuing session of\u2026","rel":"","context":"In &quot;Cabinet Decisions&quot;","block_context":{"text":"Cabinet Decisions","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/cabinet_decisions\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":256015,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/10\/25\/international-financial-services-centres-authority-insurance-intermediary-regulations-2021\/","url_meta":{"origin":223468,"position":4},"title":"International Financial Services Centres Authority (Insurance Intermediary) Regulations, 2021","author":"Prachi Bhardwaj","date":"October 25, 2021","format":false,"excerpt":"The International Financial Services Centres Authority has notified the IFSCA (Insurance Intermediary) Regulations, 2021, vide notification dated October 18, 2021. The Regulation seeks to inculcate the process of registration and operations of insurance intermediaries in an International Financial Services Centre under the regulatory purview of The International Financial Services Centres\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/05\/IFSCA1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/05\/IFSCA1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/05\/IFSCA1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/05\/IFSCA1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/05\/IFSCA1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":256051,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/10\/25\/international-financial-services-centres-authority-registration-of-insurance-business-regulations-2021\/","url_meta":{"origin":223468,"position":5},"title":"IFSCA (Registration of Insurance Business) Regulations, 2021","author":"Bhumika Indulia","date":"October 25, 2021","format":false,"excerpt":"On October 18, 2021, the International Financial Services Centres Authority (IFSCA) has issued the International Financial Services Centres Authority (Registration of Insurance Business) Regulations, 2021. \u00a0 Objective: The objective is to put in place the process of registration and operations of insurer and Reinsurer in an International Financial Services Centre\u2026","rel":"","context":"In &quot;Legislation Updates&quot;","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/05\/IFSCA1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/05\/IFSCA1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/05\/IFSCA1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/05\/IFSCA1.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/05\/IFSCA1.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/223468","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/8808"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=223468"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/223468\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=223468"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=223468"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=223468"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}