{"id":264503,"date":"2022-03-26T15:30:09","date_gmt":"2022-03-26T10:00:09","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=264503"},"modified":"2022-03-26T13:12:09","modified_gmt":"2022-03-26T07:42:09","slug":"review-committee-is-established-to-review-international-financial-services-centres-authority-vide-international-financial-services-centres-authority-performance-review-committee-regulations-2022","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2022\/03\/26\/review-committee-is-established-to-review-international-financial-services-centres-authority-vide-international-financial-services-centres-authority-performance-review-committee-regulations-2022\/","title":{"rendered":"Review Committee established to review IFSCA vide IFSCA (Performance Review Committee) Regulations, 2022"},"content":{"rendered":"<p style=\"text-align: justify;\">On March 23, 2022, International Financial Services Centres Authority notified <strong>International Financial Services Centres Authority (Performance Review Committee) Regulations, 2022<\/strong>. Performance Review Committee is formed to review and the functions carried on by the <strong>International Financial Services Centres Authority<\/strong>.<\/p>\n<p style=\"text-align: justify;\"><strong>\u00a0<\/strong><\/p>\n<p style=\"text-align: justify;\">Under <u>Section 12<\/u> of <strong><u>International Financial Services Centres Authority Act, 2019 (Act)<\/u><\/strong>, Authority<strong>&#8211;<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li>Develops and regulates the financial products, financial services and financial institutions in an International Financial Services Centre.<\/li>\n<li>Recommends to the Central Government financial products, financial services and financial institutions which may be permitted in an International Financial Services Centre by the Central Government for time to time.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\">These regulations will come into force from the 23<sup>rd<\/sup> March, 2022 to conduct review activities in order to adhere to the functions of Authority under <u>Section 17<\/u> of the <strong>Act<\/strong>.<\/p>\n<p style=\"text-align: justify;\">Performance Review Committee has been created to review, at least once in every financial year, the following-<\/p>\n<ul style=\"text-align: justify;\">\n<li>Adherence of the provisions of the Act, to fulfil the function of the Authority.<\/li>\n<li>To create transparency in the practices of Authority and manage risk in a reasonable manner.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong><u>Key elements of the Regulation:<\/u><\/strong><\/p>\n<p style=\"text-align: justify;\"><strong><u>Committee- Composition and Operation-<\/u><\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li>As per <strong>Para 3<\/strong> of the Regulation, Performance Review Committee will be consisting of members nominated by the Board. The Board [<strong>Para 2 (c)<\/strong>] is created under the Members of the committee are as under-<\/li>\n<\/ul>\n<ol>\n<li style=\"list-style-type: none;\">\n<ol style=\"text-align: justify;\">\n<li>Two members of the Authority<\/li>\n<li>Two independent experts.<\/li>\n<\/ol>\n<\/li>\n<\/ol>\n<ul style=\"text-align: justify;\">\n<li>The members, including the independent experts, of the Committee shall be nominated for a period of three years.<\/li>\n<li>Committee shall review the compliance and governance functions of the Authority to assess as to whether the Authority has adhered to the provisions of the applicable laws.<\/li>\n<li>Whether the regulation reduces the compliance burden of stakeholders and promotes transparency and best practices of governance.<\/li>\n<li>Risk management by the Authority in relation to its functions.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong><u>Risk Management- <\/u><\/strong><\/p>\n<p style=\"text-align: justify;\">According to <strong>Para 6<\/strong> of the Regulation, the Review Committee will ensure the functions of the Authority in managing the risk in reasonable manner. Risk management include-<\/p>\n<ul style=\"text-align: justify;\">\n<li>Ensuring adequacy and effectiveness of the risk monitoring measures for its activities.<\/li>\n<li>Risk identification measures are appropriate and assure the safety and soundness of the operations of the Authority.<\/li>\n<li>Ensuring that any possible harm is mitigated and risks are categorised.<\/li>\n<li>Monitoring and evaluation process and maintenance of record.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong><u>Complaint Handling System-<\/u><\/strong><\/p>\n<p style=\"text-align: justify;\">As per <strong>Para 9<\/strong> of the Regulation, Performance Review Committee shall maintain a system by which any person may submit to the Committee. Failing in adherence in application of provisions of the Act, misappropriation of resources, abuse of powers by member of the Authority, non-compliance of any decision by member of Authority, the Committee will be entitled to-<\/p>\n<ul style=\"text-align: justify;\">\n<li>Submit in writing by the person to the Committee<\/li>\n<li>Committee receiving the complaints will register them and assign the procedure for redressal.<\/li>\n<li>Committee may seek requisite information or confirmation from the complainant for examining the complaint<\/li>\n<li>The Authority is of the view that <em>prima-facie <\/em>the complaint has some merit, it will forward the same to the Authority concerned, for appropriate action in accordance with the applicable laws.<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><strong><u>Reporting Requirements<\/u>&#8211;<\/strong><strong>\u00a0<\/strong><\/p>\n<ul>\n<li style=\"text-align: justify;\">The Authority shall forward a copy of report after reviewing. In pursuant to such report to the Central Government within a period of three months from the date of receipt of the report.<\/li>\n<li style=\"text-align: justify;\">According to <strong>Para 10<\/strong> of the Regulation, the Committee shall submit a consolidated report to the Authority, containing the findings of each review area, in the fixed month of every year.<\/li>\n<li style=\"text-align: justify;\">The Authority shall take action on the report under sub-regulation (1) in accordance with <u>Section 17(2)<\/u> of the <strong>Act<\/strong>.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<hr \/>\n<h4><span style=\"color: #000080;\">*Shubhi Srivastava, Editorial Assistant has reported this brief.<\/span><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>On March 23, 2022, International Financial Services Centres Authority notified International Financial Services Centres Authority (Performance Review Committee) Regulations, 2022. Performance Review <\/p>\n","protected":false},"author":121,"featured_media":248110,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,15],"tags":[],"class_list":["post-264503","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-rules_regulations"],"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>Review Committee established to review IFSCA vide IFSCA (Performance Review Committee) Regulations, 2022 | 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\/2022\/03\/26\/review-committee-is-established-to-review-international-financial-services-centres-authority-vide-international-financial-services-centres-authority-performance-review-committee-regulations-2022\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Review Committee established to review IFSCA vide IFSCA (Performance Review Committee) Regulations, 2022\" \/>\n<meta property=\"og:description\" content=\"On March 23, 2022, International Financial Services Centres Authority notified International Financial Services Centres Authority (Performance Review Committee) Regulations, 2022. Performance Review\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.scconline.com\/blog\/post\/2022\/03\/26\/review-committee-is-established-to-review-international-financial-services-centres-authority-vide-international-financial-services-centres-authority-performance-review-committee-regulations-2022\/\" \/>\n<meta property=\"og:site_name\" content=\"SCC Times\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/scc.online\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-26T10:00:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/05\/IFSCA1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1330\" \/>\n\t<meta property=\"og:image:height\" content=\"887\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Prachi Bhardwaj\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Prachi Bhardwaj\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2022\/03\/26\/review-committee-is-established-to-review-international-financial-services-centres-authority-vide-international-financial-services-centres-authority-performance-review-committee-regulations-2022\/\",\"url\":\"https:\/\/www.scconline.com\/blog\/post\/2022\/03\/26\/review-committee-is-established-to-review-international-financial-services-centres-authority-vide-international-financial-services-centres-authority-performance-review-committee-regulations-2022\/\",\"name\":\"Review Committee established to review IFSCA vide IFSCA (Performance Review Committee) Regulations, 2022 | SCC Times\",\"isPartOf\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2022\/03\/26\/review-committee-is-established-to-review-international-financial-services-centres-authority-vide-international-financial-services-centres-authority-performance-review-committee-regulations-2022\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2022\/03\/26\/review-committee-is-established-to-review-international-financial-services-centres-authority-vide-international-financial-services-centres-authority-performance-review-committee-regulations-2022\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/05\/IFSCA1.jpg\",\"datePublished\":\"2022-03-26T10:00:09+00:00\",\"author\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/de579aff4bc6dd24b68d6d472ac92942\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2022\/03\/26\/review-committee-is-established-to-review-international-financial-services-centres-authority-vide-international-financial-services-centres-authority-performance-review-committee-regulations-2022\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.scconline.com\/blog\/post\/2022\/03\/26\/review-committee-is-established-to-review-international-financial-services-centres-authority-vide-international-financial-services-centres-authority-performance-review-committee-regulations-2022\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2022\/03\/26\/review-committee-is-established-to-review-international-financial-services-centres-authority-vide-international-financial-services-centres-authority-performance-review-committee-regulations-2022\/#primaryimage\",\"url\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/05\/IFSCA1.jpg\",\"contentUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/05\/IFSCA1.jpg\",\"width\":1330,\"height\":887},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.scconline.com\/blog\/post\/2022\/03\/26\/review-committee-is-established-to-review-international-financial-services-centres-authority-vide-international-financial-services-centres-authority-performance-review-committee-regulations-2022\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.scconline.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Review Committee established to review IFSCA vide IFSCA (Performance Review Committee) Regulations, 2022\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#website\",\"url\":\"https:\/\/www.scconline.com\/blog\/\",\"name\":\"SCC Times\",\"description\":\"Bringing you the Best Analytical Legal News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.scconline.com\/blog\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/de579aff4bc6dd24b68d6d472ac92942\",\"name\":\"Prachi Bhardwaj\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Prachi-Image2-150x150.png\",\"contentUrl\":\"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Prachi-Image2-150x150.png\",\"caption\":\"Prachi Bhardwaj\"},\"description\":\"Senior Associate Editor\",\"url\":\"https:\/\/www.scconline.com\/blog\/post\/author\/editor_3\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Review Committee established to review IFSCA vide IFSCA (Performance Review Committee) Regulations, 2022 | SCC Times","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.scconline.com\/blog\/post\/2022\/03\/26\/review-committee-is-established-to-review-international-financial-services-centres-authority-vide-international-financial-services-centres-authority-performance-review-committee-regulations-2022\/","og_locale":"en_US","og_type":"article","og_title":"Review Committee established to review IFSCA vide IFSCA (Performance Review Committee) Regulations, 2022","og_description":"On March 23, 2022, International Financial Services Centres Authority notified International Financial Services Centres Authority (Performance Review Committee) Regulations, 2022. Performance Review","og_url":"https:\/\/www.scconline.com\/blog\/post\/2022\/03\/26\/review-committee-is-established-to-review-international-financial-services-centres-authority-vide-international-financial-services-centres-authority-performance-review-committee-regulations-2022\/","og_site_name":"SCC Times","article_publisher":"https:\/\/www.facebook.com\/scc.online\/","article_published_time":"2022-03-26T10:00:09+00:00","og_image":[{"width":1330,"height":887,"url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/05\/IFSCA1.jpg","type":"image\/jpeg"}],"author":"Prachi Bhardwaj","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Prachi Bhardwaj","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.scconline.com\/blog\/post\/2022\/03\/26\/review-committee-is-established-to-review-international-financial-services-centres-authority-vide-international-financial-services-centres-authority-performance-review-committee-regulations-2022\/","url":"https:\/\/www.scconline.com\/blog\/post\/2022\/03\/26\/review-committee-is-established-to-review-international-financial-services-centres-authority-vide-international-financial-services-centres-authority-performance-review-committee-regulations-2022\/","name":"Review Committee established to review IFSCA vide IFSCA (Performance Review Committee) Regulations, 2022 | SCC Times","isPartOf":{"@id":"https:\/\/www.scconline.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2022\/03\/26\/review-committee-is-established-to-review-international-financial-services-centres-authority-vide-international-financial-services-centres-authority-performance-review-committee-regulations-2022\/#primaryimage"},"image":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2022\/03\/26\/review-committee-is-established-to-review-international-financial-services-centres-authority-vide-international-financial-services-centres-authority-performance-review-committee-regulations-2022\/#primaryimage"},"thumbnailUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/05\/IFSCA1.jpg","datePublished":"2022-03-26T10:00:09+00:00","author":{"@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/de579aff4bc6dd24b68d6d472ac92942"},"breadcrumb":{"@id":"https:\/\/www.scconline.com\/blog\/post\/2022\/03\/26\/review-committee-is-established-to-review-international-financial-services-centres-authority-vide-international-financial-services-centres-authority-performance-review-committee-regulations-2022\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.scconline.com\/blog\/post\/2022\/03\/26\/review-committee-is-established-to-review-international-financial-services-centres-authority-vide-international-financial-services-centres-authority-performance-review-committee-regulations-2022\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/post\/2022\/03\/26\/review-committee-is-established-to-review-international-financial-services-centres-authority-vide-international-financial-services-centres-authority-performance-review-committee-regulations-2022\/#primaryimage","url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/05\/IFSCA1.jpg","contentUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/05\/IFSCA1.jpg","width":1330,"height":887},{"@type":"BreadcrumbList","@id":"https:\/\/www.scconline.com\/blog\/post\/2022\/03\/26\/review-committee-is-established-to-review-international-financial-services-centres-authority-vide-international-financial-services-centres-authority-performance-review-committee-regulations-2022\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.scconline.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Review Committee established to review IFSCA vide IFSCA (Performance Review Committee) Regulations, 2022"}]},{"@type":"WebSite","@id":"https:\/\/www.scconline.com\/blog\/#website","url":"https:\/\/www.scconline.com\/blog\/","name":"SCC Times","description":"Bringing you the Best Analytical Legal News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.scconline.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/de579aff4bc6dd24b68d6d472ac92942","name":"Prachi Bhardwaj","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.scconline.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Prachi-Image2-150x150.png","contentUrl":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/04\/Prachi-Image2-150x150.png","caption":"Prachi Bhardwaj"},"description":"Senior Associate Editor","url":"https:\/\/www.scconline.com\/blog\/post\/author\/editor_3\/"}]}},"jetpack_featured_media_url":"https:\/\/www.scconline.com\/blog\/wp-content\/uploads\/2021\/05\/IFSCA1.jpg","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":371714,"url":"https:\/\/www.scconline.com\/blog\/post\/2026\/01\/05\/ifsca-global-in-house-centres-regulations-legal-update\/","url_meta":{"origin":264503,"position":0},"title":"IFSCA Global In-House Centres Regulations 2025: Key Objectives, Eligibility &#038; Registration Process","author":"Kriti","date":"January 5, 2026","format":false,"excerpt":"The International Financial Services Centres Authority (Global In-House Centres) Regulations, 2025 aim to position India\u2019s IFSCs as global hubs for high-value financial services, create employment, and strengthen India\u2019s role in the global financial value chain. These regulations outline eligibility, registration procedures, permissible services, and compliance requirements for setting up Global\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":"IFSCA Global In-House Centres Regulations 2025","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2026\/01\/IFSCA-Global-In-House-Centres-Regulations-2025.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2026\/01\/IFSCA-Global-In-House-Centres-Regulations-2025.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2026\/01\/IFSCA-Global-In-House-Centres-Regulations-2025.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2026\/01\/IFSCA-Global-In-House-Centres-Regulations-2025.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":262875,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/03\/01\/ifsca-notifies-rules-on-annual-report-and-returns-and-form-of-annual-statement\/","url_meta":{"origin":264503,"position":1},"title":"IFSCA notifies Rules on Annual Report and Returns and Form of Annual Statement","author":"Bhumika Indulia","date":"March 1, 2022","format":false,"excerpt":"On February 28, 2022, the Central Government notifies International Financial Services Centres Authority (Annual Report and Returns and Statements and Other Particulars) Rules, 2022 and International Financial Services Centres Authority (Form of Annual Statement of Accounts) Rules, 2022. International Financial Services Centres Authority (Annual Report and Returns and Statements and\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":264503,"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":281791,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/01\/17\/international-financial-services-centres-authority-notified-international-financial-services-centres-authority-appointed-actuary-regulations-2022-legal-research-legal-update-news\/","url_meta":{"origin":264503,"position":3},"title":"IFSCA notifies IFSCA (Appointed Actuary) Regulations, 2022","author":"Editor","date":"January 17, 2023","format":false,"excerpt":"On 12-1-2023, the International Financial Services Centres Authority notified International Financial Services Centres Authority (Appointed Actuary) Regulations, 2022. The regulations lay down regulatory framework for the persons who are engaged by the Insurance Officers(\u2018IOs') to perform the roles and discharge the functions as Appointed Actuary (\u2018AA'). Applicability: International Financial Services\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":"IFSCA","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/01\/MicrosoftTeams-image-100.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":256595,"url":"https:\/\/www.scconline.com\/blog\/post\/2021\/11\/01\/ifsca-issues-international-financial-services-centres-authority-operations-of-international-financial-services-centres-insurance-offices-guidelines-2021\/","url_meta":{"origin":264503,"position":4},"title":"IFSCA issues International Financial Services Centres Authority (Operations of International Financial Services Centres Insurance Offices) Guidelines, 2021","author":"Prachi Bhardwaj","date":"November 1, 2021","format":false,"excerpt":"The International Financial Services Centres Authority (IFSCA) has released International Financial Services Centres Authority (Operations of International Financial Services Centres Insurance Offices) Guidelines, 2021 on October 27, 2021. \u00a0 Key highlights: Objective: These guidelines aim to put in place a framework to address operational issues for the International Financial Services\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":269659,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/07\/06\/manner-of-obtaining-certificate-of-registration-by-finance-company-under-ifsca-revised-vide-ifsca-finance-company-amendment-regulations-2022\/","url_meta":{"origin":264503,"position":5},"title":"Manner of obtaining certificate of registration by &#8216;Finance Company&#8217; under IFSCA revised vide IFSCA (Finance Company) (Amendment) Regulations, 2022","author":"Editor","date":"July 6, 2022","format":false,"excerpt":"On 1-7-2022, International Financial Services Centres Authority (IFSCA) notifies International Financial Services Centres Authority (Finance Company) (Amendment) Regulations, 2022. This Amendment seeks to amend International Financial Services Centres Authority (Finance Company) Regulations, 2021, with the aim of defining the certification process and updating activities permitted to be carried out by\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":"IFSCA","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/05\/MicrosoftTeams-image-234.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/05\/MicrosoftTeams-image-234.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/05\/MicrosoftTeams-image-234.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/05\/MicrosoftTeams-image-234.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/05\/MicrosoftTeams-image-234.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/264503","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\/121"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=264503"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/264503\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/248110"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=264503"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=264503"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=264503"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}