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        SEZ

        Section 17 - Setting up and Operation of Offshore Banking Unit

        Special Economic Zones Act, 2005
        Chapter V
        SINGLE WINDOW CLEARANCE

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        Offshore Banking Unit permission requires Reserve Bank approval and compliance with notified terms for SEZ operation. Permission to establish and operate an Offshore Banking Unit in a Special Economic Zone requires an application in the prescribed form to the Reserve Bank; the Reserve Bank shall grant permission only if satisfied that the applicant fulfills the statutory conditions, and the Reserve Bank may, by notification, specify the terms and conditions governing setup and operation.
                        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.

                              Offshore Banking Unit permission requires Reserve Bank approval and compliance with notified terms for SEZ operation.

                              Permission to establish and operate an Offshore Banking Unit in a Special Economic Zone requires an application in the prescribed form to the Reserve Bank; the Reserve Bank shall grant permission only if satisfied that the applicant fulfills the statutory conditions, and the Reserve Bank may, by notification, specify the terms and conditions governing setup and operation.


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