FOURTH SCHEDULE [Refer Regulations 7] FORM - A INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY CERTIFICATE OF REGISTRATION Registration Number._________ In exercise of the powers conferred by section 12 and 13 of IFSCA Act, 2019 read with sub-section (2A) of section 3 of the Insurance Act, 1938 (4 of 1938), the Authority hereby grants a certificate of registration to (entity name and address) to transact the class(es) of business specified in the schedule below. This cert... ... ...

THIRD SCHEDULE [Refer Regulations 4] 1. Norms for establishing MGA in an IFSC: An MGA registered under Companies Act, 2013, desirous to transact insurance business in an IFSC, shall set up a company with the following norms: (1) The MGA may establish a private or a public company registered with Registrar of Companies in India, with a minimum paid up capital of INR five lakh; (2) The main objects of Memorandum of Association and Article of Association shall be to prov... ... ...

SECOND SCHEDULE [Refer Regulations 4] Provisions applicable for Lloyd's and Lloyd's IFSC: 1. Definitions applicable for Lloyd's and Lloyd's IFSC: (a) "administrator", for the purposes of these Regulations means Lloyd's IFSC, except "members of Lloyd's" (b) "binding authority" means an agreement between a Service Company and a cover-holder under which the Service Company authorises the cover-holder to enter into a contract of insurance on behalf of the members of a synd... ... ...

FIRST SCHEDULE [Refer Regulations 4 (2)] FORM - A APPLICATION BY AN INDIAN INSURER OR INDIAN RE-INSURER FOR GRANT OF CERTIFICATE OF REGISTRATION AS IIO Sr. No. Particulars Applicant's Response Remarks Section A : Company Profile 1 Name of the Applicant     2 Address of its registered office     3 Date of incorporation: [DD/MM/YYYY]     4 Registration No. and date of first registration [DD/MM/YYYY] ... ... ...

GOVERNMENT OF GOA Department of Finance Revenue & Control Division --- Notification--- No. CCT/26-2/2024-25/287/4392 Read: Notification No. 01/2025-Central Tax dated 10-01-2025 issued by Under Secretary, CBIC, Department of Revenue, Ministry of Finance, Government of India. In exercise of the powers conferred by the first proviso to sub-section (1) of Section 37 read with Section 168 of the Goa Goods and Services Tax Act, 2017 (Goa Act 4 of 2017), the Commissioner, on the recom... ... ...

22. : (1) From the date of publication of these Regulations in the official gazette, the provisions of the Insurance Regulatory and Development Authority of India Guideline No. IRDA/RI/ GDL/SEZ/269/12/2017dated 21st December, 2017, shall stand repealed; (2) Notwithstanding the above, anything done or any action taken or purported to have been done or taken in respect of the guidelines mentioned in sub-regulation (1) shall be deemed to have been done or taken under the corresponding provisi... ... ...

21. : An Applicant may be allowed to close its IIO and surrender its Certificate of registration only with the prior approval of the Authority and subject to such conditions as may be specified by the Authority. =============... ... ...

20. : (1) If pursuant to an inspection and/or investigation or otherwise, the Authority is of the opinion that the operations of an IIO are not being conducted in accordance with the provisions of the Act, rules or regulations made or circulars and guidelines issued thereunder or its activities are not in the interests of the insurance market or in the public interest, the Authority may take appropriate disciplinary action against it including but not limited to suspension or cancellation of ... ... ...

19. : The Authority shall have the power to inspect and/or investigate the affairs of the IIO including calling for the information from the IIO, its employees and the Applicant, so far as it relates to its activities as an IIO. =============... ... ...

CHAPTER VI MISCELLANEOUS 18. : For the purpose of implementation of these Regulations and matter incidental thereto, or in order to facilitate and regulate financial services related to insurance and re-insurance in an IFSC, the Authority may specify such norms, procedures, processes, manners or provide clarification and relaxations, by way of guidelines or circulars, as it may deem fit. =============... ... ...

CHAPTER V BASIC REGULATORY AND GOVERNANCE REQUIREMENTS 17. An IIO shall follow following basic regulatory requirements or such other requirements as may be specified by the Authority - (1) Net Owned Funds (NOF): (i) an Applicant, being a foreign company engaged in re-insurance business through a branch established in an IFSC shall comply with Net Owned Funds requirement prescribed under sub-section (3) of section 6 of the Insurance Act, 1938; (ii) an Applicant may demo... ... ...

Public charitable trusts whose trustees or members have no entitlement to a share of income are not subject to the maximum marginal rate merely because their shares are indeterminate or unknown. The rule for indeterminate member shares applies to associations of persons or bodies of individuals, but CBDT clarification treats charitable or religious trusts without beneficiary income rights as taxable at normal association-of-persons rates. Accordingly, a public charitable trust not registered under section 12A is assessable at normal rates rather than the maximum marginal rate; where its income remains below the basic exemption limit, no tax is payable.

16. An IIO may render such other insurance or re-insurance business related services as may be specified by the Authority; Provided that the applicant shall obtain prior approval of the Authority for rendering of such services, subject to such conditions as may be specified. =============... ... ...

15. In case of re-insurance business, the IIO - (1) may accept re-insurance business from the cedents based in the IFSC, in relation to risk emanating from other SEZs and re-insurance business from outside India; (2) may accept re-insurance business from the insurers operating in DTA in accordance with the order of preference for cession specified in the IRDAI (Re-insurance) Regulations, 2018. =============... ... ...

14. The IIO registered to transact direct insurance business shall not write direct insurance business from the DTA except in accordance with Section 2CB of the Insurance Act, 1938. =============... ... ...

13. An IIO registered to transact direct insurance business may be permitted to do so within the IFSC, from other SEZs and also from outside India. =============... ... ...

12. An IIO shall not engage itself in any business other than for which the registration has been granted by the Authority. =============... ... ...

11. An IIO shall conduct its business in any freely convertible foreign currencies other than INR, with such persons, whether resident in India or otherwise, as may be permitted by the Authority. =============... ... ...

CHAPTER IV PERMISSIBLE ACTIVITES 10. An IIO registered with the Authority may carry any of the following class of businesses as may be permitted by the Authority subject to such conditions as may be specified:- (a) Life Insurance Business; (b) General Insurance Business; (c) Health Insurance Business; or (d) Re-insurance Business. Provided that the IIO registered as place of business of Indian Insurer or Branch Office of Foreign Insurer or Re-insurer ... ... ...

GOVERNMENT OF GOA Department of Finance Office of the Commissioner of Commercial Taxes No. CCT/26-4/2024-25/G/1626 Subject: -reg. Ref .: Circular No. 226/20/2024-GST dated 11th July, 2024 issued under Central Goods and Services Tax Act, 2017 by the GST Policy Wing, Central Board of Indirect Taxes and Customs, Department of Revenue, Ministry of Finance, Government of India, New Delhi. Circular (No. 19/2024-25-GST) The GST Policy Wing, Central Board of Indirect Taxes and Cu... ... ...