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    <title>Supersession and saving</title>
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    <description>Regulation 22 supersedes the specified Reserve Bank circular from commencement of the International Financial Services Centres Authority (Banking) Regulations, 2020. Actions taken or purportedly taken under that circular are preserved and deemed taken under corresponding provisions of these regulations. Banking Units already operating in an International Financial Services Centre must meet any additional requirements within three months of notification, subject to an extension specified by the Authority.</description>
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      <description>Regulation 22 supersedes the specified Reserve Bank circular from commencement of the International Financial Services Centres Authority (Banking) Regulations, 2020. Actions taken or purportedly taken under that circular are preserved and deemed taken under corresponding provisions of these regulations. Banking Units already operating in an International Financial Services Centre must meet any additional requirements within three months of notification, subject to an extension specified by the Authority.</description>
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