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Provisions of clause (u) of section 2 of the Special Economic Zones Act, 2005, would not apply to setting up of (i) offsite Automated Teller Machines in the SEZ, and (ii) branches in Special Economic Zones by Banks, not licensed as Offshore Banking Units - S. O. 527 - Special Economic Zone
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SEZ exclusion for offsite ATMs and non OBU bank branches permitted subject to prior central bank permission. Declaration that clause (u) of the Special Economic Zones Act does not apply to establishing offsite Automated Teller Machines in SEZs and to branches in SEZs by banks not licensed as offshore banking units, provided such establishments obtain prior authorization from the central banking authority under the applicable banking regulatory framework.
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.
SEZ exclusion for offsite ATMs and non OBU bank branches permitted subject to prior central bank permission.
Declaration that clause (u) of the Special Economic Zones Act does not apply to establishing offsite Automated Teller Machines in SEZs and to branches in SEZs by banks not licensed as offshore banking units, provided such establishments obtain prior authorization from the central banking authority under the applicable banking regulatory framework.
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