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        SEZ

        Rule 21A - Setting up of Unit by Multilateral or Unilateral or International agencies in International Financial Services Centre

        Special Economic Zones Rules, 2006
        Chapter III
        PROCEDURE FOR ESTABLISHMENT OF A UNIT

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        Establishment of IFSC units by multilateral agencies permitted, subject to Board approval and possible regulatory exemptions. Rule 21A allows multilateral, unilateral or international agencies notified under the United Nations (Privileges and Immunities) Act to establish local or regional offices as Units in the International Financial Services Centre. Applications must be made to the Board of Approval through the Development Commissioner, which will prescribe terms and conditions on the Development Commissioner's recommendation. The Board may exempt such Units from any SEZ Rule provisions, including net foreign exchange and annual report requirements, and will consider extensions of the Letter of Approval.
                        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.

                              Establishment of IFSC units by multilateral agencies permitted, subject to Board approval and possible regulatory exemptions.

                              Rule 21A allows multilateral, unilateral or international agencies notified under the United Nations (Privileges and Immunities) Act to establish local or regional offices as Units in the International Financial Services Centre. Applications must be made to the Board of Approval through the Development Commissioner, which will prescribe terms and conditions on the Development Commissioner's recommendation. The Board may exempt such Units from any SEZ Rule provisions, including net foreign exchange and annual report requirements, and will consider extensions of the Letter of Approval.


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