Regulatory authority reallocation: powers over IFSC financial products and services vested in the IFSC Authority. New sections added to multiple financial statutes provide that, notwithstanding other laws, the statutory powers of the listed domestic regulators shall not extend to an International Financial Services Centre set up under the Special Economic Zones Act and shall instead be exercisable by the International Financial Services Centres Authority insofar as regulation of financial products, financial services and financial institutions permitted in the IFSC are concerned.
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.
Regulatory authority reallocation: powers over IFSC financial products and services vested in the IFSC Authority.
New sections added to multiple financial statutes provide that, notwithstanding other laws, the statutory powers of the listed domestic regulators shall not extend to an International Financial Services Centre set up under the Special Economic Zones Act and shall instead be exercisable by the International Financial Services Centres Authority insofar as regulation of financial products, financial services and financial institutions permitted in the IFSC are concerned.
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