Foreign insurance restriction relaxed so SEZ units may obtain general insurance from insurers outside the country. An amendment to Regulation 3 of the Foreign Exchange Management (Insurance) Regulations, 2000 inserts a proviso exempting units located in Special Economic Zones from the prohibition on taking general insurance policies issued by insurers outside India; the amendment is made under section 47(2) of the Foreign Exchange Management Act and takes effect on publication in the Official Gazette.
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.
Foreign insurance restriction relaxed so SEZ units may obtain general insurance from insurers outside the country.
An amendment to Regulation 3 of the Foreign Exchange Management (Insurance) Regulations, 2000 inserts a proviso exempting units located in Special Economic Zones from the prohibition on taking general insurance policies issued by insurers outside India; the amendment is made under section 47(2) of the Foreign Exchange Management Act and takes effect on publication in the Official Gazette.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
