Non-application of domestic fund and regulatory provisions to IFSC entities, subject to IOSCO/FMI governance adoption. Certain domestic regulatory provisions do not apply to IFSC entities: stock exchanges are exempt from the requirement to credit twenty five per cent of profits to clearing corporation funds, depositories are exempt from crediting twenty five per cent of profits to investor protection funds, and specified transitory provisions and regulatory chapters do not apply to stock exchanges, clearing corporations and depositories operating in the IFSC. These entities must adopt broader governance principles prescribed by IOSCO and the Principles for Financial Market Infrastructures and any additional norms specified by the Board.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Non-application of domestic fund and regulatory provisions to IFSC entities, subject to IOSCO/FMI governance adoption.
Certain domestic regulatory provisions do not apply to IFSC entities: stock exchanges are exempt from the requirement to credit twenty five per cent of profits to clearing corporation funds, depositories are exempt from crediting twenty five per cent of profits to investor protection funds, and specified transitory provisions and regulatory chapters do not apply to stock exchanges, clearing corporations and depositories operating in the IFSC. These entities must adopt broader governance principles prescribed by IOSCO and the Principles for Financial Market Infrastructures and any additional norms specified by the Board.
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