IFSC regulatory authority rests with International Financial Services Centres Authority for permitted financial products and services. Section 23G excludes the Board's powers under the Depositories Act from applying to an International Financial Services Centre established under the Special Economic Zones Act and vests regulation of financial products, financial services and financial institutions permitted in such centres in the International Financial Services Centres Authority established under the International Financial Services Centres Authority Act.
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Provisions expressly mentioned in the judgment/order text.
IFSC regulatory authority rests with International Financial Services Centres Authority for permitted financial products and services.
Section 23G excludes the Board's powers under the Depositories Act from applying to an International Financial Services Centre established under the Special Economic Zones Act and vests regulation of financial products, financial services and financial institutions permitted in such centres in the International Financial Services Centres Authority established under the International Financial Services Centres Authority Act.
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