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of <h1>Central Government Approves One International Financial Services Centre per Special Economic Zone Under SEZ Act, Section 18.</h1> An International Financial Services Centre (IFSC) is defined under the Special Economic Zones Act, 2005. According to clause (q) of section 2, an IFSC is one that the Central Government has approved under sub-section (1) of section 18. The Central Government has the authority to approve the establishment of an IFSC within a Special Economic Zone (SEZ), setting the requirements for its setup and operation. However, only one IFSC can be approved per SEZ.
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