Unit deemed to be in International Financial Services Centre when it stores bullion for bullion spot contracts or depository receipts. A deeming provision treats any unit authorised to store bullion as the underlying asset for issuance of bullion spot delivery contracts or bullion depository receipts traded on a recognised bullion exchange as being in an International Financial Services Centre; key terms are defined by reference to an existing government notification and 'bullion exchange' is defined as a stock exchange in an International Financial Services Centre recognised for trading those instruments.
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.
Unit deemed to be in International Financial Services Centre when it stores bullion for bullion spot contracts or depository receipts.
A deeming provision treats any unit authorised to store bullion as the underlying asset for issuance of bullion spot delivery contracts or bullion depository receipts traded on a recognised bullion exchange as being in an International Financial Services Centre; key terms are defined by reference to an existing government notification and "bullion exchange" is defined as a stock exchange in an International Financial Services Centre recognised for trading those instruments.
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