Letter of Approval for IFSC units authorises SEZ facilities subject to statutory approvals, operational conditions, validity, renewal and cancellation.

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Full Text of the Document

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....Inserts rule enabling the Administrator of the International Financial Services Centre to issue a prescribed Letter of Approval (Form GA) for setting up an IFSC unit in an SEZ; the LOA grants SEZ facilities subject to statutory approvals, requires execution of a Bond cum Legal Undertaking, mandates export of financial services as authorised, permits import/procurement and limited supply to the Domestic Tariff Area, imposes pollution control and other compliance obligations, prescribes implementation and commencement timelines with specified validity and renewal/exit options, and allows cancellation for non compliance.....