Shareholding and governance for IFSC market infrastructures redefined to require parent majority subsidiaries and international governance standards. The amendments require stock exchanges, clearing corporations and foreign depositories to form subsidiaries to operate in IFSCs with the parent retaining majority paid up equity; other specified market entities may hold remaining equity subject to an individual cap. Indian depositories may set up ring fenced IFSC Depository Services with Board approval. SEBI-registered intermediaries (except trading or clearing members) may operate in IFSC without forming a separate company subject to prior Board approval; trading and clearing members must form a company. IFSC market infrastructures are exempted from certain domestic regulations but must adopt international governance principles and remain governed by their parent entity.
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.
Shareholding and governance for IFSC market infrastructures redefined to require parent majority subsidiaries and international governance standards.
The amendments require stock exchanges, clearing corporations and foreign depositories to form subsidiaries to operate in IFSCs with the parent retaining majority paid up equity; other specified market entities may hold remaining equity subject to an individual cap. Indian depositories may set up ring fenced IFSC Depository Services with Board approval. SEBI-registered intermediaries (except trading or clearing members) may operate in IFSC without forming a separate company subject to prior Board approval; trading and clearing members must form a company. IFSC market infrastructures are exempted from certain domestic regulations but must adopt international governance principles and remain governed by their parent entity.
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