IFSC fund exemption: units as alternate investment or mutual funds exempted from specified net foreign exchange compliance. A new rule exempts Units in an IFSC established as Alternate Investment Funds or Mutual Funds from the prior rule with respect to investor inflows, investments from those funds and returns, with net foreign exchange determined together with the Fund Manager; similarly, IFSC Insurance Office Units are exempted for the portion of premium income above permitted management expense retention, investments from that portion and returns including amounts paid on claims.
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.
IFSC fund exemption: units as alternate investment or mutual funds exempted from specified net foreign exchange compliance.
A new rule exempts Units in an IFSC established as Alternate Investment Funds or Mutual Funds from the prior rule with respect to investor inflows, investments from those funds and returns, with net foreign exchange determined together with the Fund Manager; similarly, IFSC Insurance Office Units are exempted for the portion of premium income above permitted management expense retention, investments from that portion and returns including amounts paid on claims.
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