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of <h1>Third-party assets of financial service providers managed under Central Government directives, exempt from specific rules per Section 227.</h1> The provisions clarify that certain rules and sections do not apply to third-party assets or properties held by a financial service provider, such as funds, securities, and other trust-held assets. The Administrator is responsible for taking control and custody of these third-party assets solely to manage them as directed by the Central Government under section 227. This ensures that third-party assets are handled appropriately during insolvency and liquidation proceedings of financial service providers.
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