Repeal and saving framework preserves prior investment actions while requiring existing IFSC insurance offices to meet additional requirements. Actions taken or purportedly taken under the superseded investment regulations and master circular before commencement are preserved and deemed taken ... Summary
Repeal and saving framework preserves prior investment actions while requiring existing IFSC insurance offices to meet additional requirements.
Actions taken or purportedly taken under the superseded investment regulations and master circular before commencement are preserved and deemed taken under corresponding provisions of the 2022 Regulations. An International Financial Services Centre Insurance Office operating before commencement must meet the additional requirements within six months of commencement, unless the Authority permits an extended period.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.