Repeal and saving provisions preserve prior intermediary actions while requiring existing IFSC operators to meet new regulatory requirements. Repeal and saving provisions replace the specified IRDAI guidelines upon notification of the International Financial Services Centres Authority (Insurance ... Summary
Repeal and saving provisions preserve prior intermediary actions while requiring existing IFSC operators to meet new regulatory requirements.
Repeal and saving provisions replace the specified IRDAI guidelines upon notification of the International Financial Services Centres Authority (Insurance Intermediary) Regulations, 2021 in the Official Gazette. Prior actions under those guidelines remain valid and are deemed to have been taken under corresponding regulatory provisions. An IIIO already operating in an IFSC must comply with additional requirements within six months of notification or any extended period specified by the Authority.
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