International Financial Services Centre definitions broaden LLP regulation through new terms for currency, authority, and specified LLPs. The Limited Liability Partnership Act, 2008 is amended to insert definitions for International Financial Services Centre, International Financial Services Centres Authority, permitted foreign currency, and Specified International Financial Services Centre LLP. The amendment adopts the meanings given under the International Financial Services Centres Authority Act, 2019, and defines permitted foreign currency as a currency specified by the Authority in consultation with the Central Government. It also recognises LLPs set up in an International Financial Services Centre and regulated by the Authority.
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.
International Financial Services Centre definitions broaden LLP regulation through new terms for currency, authority, and specified LLPs.
The Limited Liability Partnership Act, 2008 is amended to insert definitions for International Financial Services Centre, International Financial Services Centres Authority, permitted foreign currency, and Specified International Financial Services Centre LLP. The amendment adopts the meanings given under the International Financial Services Centres Authority Act, 2019, and defines permitted foreign currency as a currency specified by the Authority in consultation with the Central Government. It also recognises LLPs set up in an International Financial Services Centre and regulated by the Authority.
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