Regulatory transition for IFSC insurance investments preserves earlier actions while requiring existing offices to meet additional requirements. Prior investment regulations, master circulars and guidelines cease to apply in an International Financial Services Centre from commencement. Actions ... Summary
Regulatory transition for IFSC insurance investments preserves earlier actions while requiring existing offices to meet additional requirements.
Prior investment regulations, master circulars and guidelines cease to apply in an International Financial Services Centre from commencement. Actions taken or purportedly taken under that earlier framework before commencement are preserved and deemed to have been taken under corresponding provisions. An International Financial Service Centre Insurance Office already operating must comply with additional requirements within six months of commencement or within an extended period permitted by the Authority.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.