Credit rating requirement for IFSC listed debt securities expanded to include FATF jurisdiction agencies, with custodial and IFRS reporting obligations. The amendments permit credit ratings for IFSC listed debt securities from agencies registered with the Board or in FATF member jurisdictions; require issuers to contract with a depository or custodian registered in a FATF jurisdiction and disclose that appointment in the information memorandum; and mandate financial statements prepared in IFRS/US GAAP (or local standards with a quantitative summary of material differences from IFRS) for entities issuing or listing debt securities in IFSC.
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.
Credit rating requirement for IFSC listed debt securities expanded to include FATF jurisdiction agencies, with custodial and IFRS reporting obligations.
The amendments permit credit ratings for IFSC listed debt securities from agencies registered with the Board or in FATF member jurisdictions; require issuers to contract with a depository or custodian registered in a FATF jurisdiction and disclose that appointment in the information memorandum; and mandate financial statements prepared in IFRS/US GAAP (or local standards with a quantitative summary of material differences from IFRS) for entities issuing or listing debt securities in IFSC.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
