BATF service continuity requires registration, operational ring-fencing, and timely compliance for existing ancillary providers in IFSC. Ancillary Service Providers holding a letter of continuation may provide BATF services in their existing legal form for three years from commencement, but ... Summary
BATF service continuity requires registration, operational ring-fencing, and timely compliance for existing ancillary providers in IFSC.
Ancillary Service Providers holding a letter of continuation may provide BATF services in their existing legal form for three years from commencement, but must seek registration within that period; otherwise, they may not undertake BATF services from IFSC. Their BATF operations must be ring-fenced from other IFSC operations. They must meet applicable requirements, subject to exemptions for pre-existing contracts, manpower and assets and for migration to a newly incorporated entity, comply with regulation 11 within six months, and pay the prescribed fee.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.