TaxTMI 
TaxTMI 
Segregated Nominee Account Structure in International Financial Service Centre (IFSC)
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....a view to further facilitate ease of market access for foreign investors in IFSC and based on feedback received from market participants, it has been decided to permit Segregated Nominee Account Structure in IFSC wherein orders of foreign investors may be routed through eligible Segregated Nominee Account Providers (hereinafter referred to as 'Providers'), for trading on stock exchanges in IFSC wh....
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....ry (CKYCR) to the extent applicable to FPIs, are adhered to by 'Providers' for their end-clients. 5. Stock Exchanges and Clearing corporations are directed to: a) take necessary steps to put in place systems for implementation of the circular, including necessary amendments to the relevant bye-laws, rules and regulations; b) bring the provisions of this circular to the notice of their members....
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....orporations that are regulated by a member of Financial Action Task Force (FATF) Such eligible entities shall be called Segregated Nominee Account Providers. B. Registration of 'Provider' 'Providers' shall be registered with Stock Exchange / Clearing Corporation in IFSC for providing Segregated Nominee Account services to their end-clients C. Eligibility criteria/norms for ' Providers' Stock ....
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....h more than one 'Provider' and trades of an end-client are cleared and settled only through one clearing member. iii. Each end-client shall be assigned a Unique Client Code (UCC), which shall be unique across all end-clients of all 'Providers', by Stock exchange/clearing corporation in IFSC. E. Order entry Unique Client Code shall be used at the time of order entry by the 'Providers' for their ....