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    <description>Pension Fund registration requires an applicant to be a company incorporated in an International Financial Services Centre or, subject to prior comparable registration or regulation, a branch of an overseas company. The board must have at least four directors, including at least one-half independent directors, and the applicant and promoters must not be from specified high-risk jurisdictions. Applicants or their parent or associate entities require ten years&#039; relevant financial-sector experience and must maintain minimum net worth of USD 1 million, at the parent level where applicable.</description>
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