10. : (1) On and from the commencement of these regulations, the Insurance Regulatory and Development Authority of India (Appointed Actuary) Regulations, 2022 and any Circulars, Guidelines issued thereunder from time to time, shall cease to apply in an International Financial Services Centre. (2) IIOs operating in an IFSC prior to the commencement of these regulations, shall comply with the additional requirements specified in these regulations, if any, within a period of one month from th... ... ...

9. : (1) In order to remove any difficulty in the application or interpretations of the provisions of these regulations, the Authority may issue clarifications through guidance notes or circulars. (2) On an application, received along with the specified non-refundable processing fees, the Authority, may for the reasons to be recorded in writing, relax the strict enforcement of any of the provisions of these regulations. =============... ... ...

8. : For the purpose of implementation, facilitation and regulation of the functions of the Appointed Actuary and matters incidental thereto, the Authority may specify norms, procedures, processes and manners for compliance by IIOs. =============... ... ...

7. - (1) shall be in accordance with the guidelines issued by the Authority and in compliance with applicable Professional Standards mentioned under clause (f) of sub-regulation (1) of regulation 3 of these regulations, practice standards and guidance notes issued by the Actuarial Association of which the AA is a member. Provided that in respect of an unincorporated IIO, the applicable Professional Standards for AAs shall be as specified by home country regulatory or supervisory authorit... ... ...

6. :- In particular and without prejudice to the generality of the foregoing matters, and in the interests of the insurance sector and the policyholders of an IIO, the duties and obligations of an AA shall include the following:- (1) Rendering actuarial advice to the IIO, in particular in the areas of product design and pricing, insurance contract wording, investments and reinsurance; (2) Ensuring the solvency of the IIO at all times and maintaining the required control level of solvenc... ... ...

5. - (1) The AA shall have access to all relevant information and documents in possession or under control of the IIO; or where the IIO is in an unincorporated form, of the Parent Entity, in respect of the following matters - (a) on which it is necessary to give actuarial advice to the IIO or its directors; (b) which may affect solvency of IIO; or (c) which may affect the ability to meet the reasonable expectations of policyholders. (2) The AA may seek any infor... ... ...

4. - (1) The Board of an IIO shall appoint a person having the necessary qualification, competency, experience and professional status to carry out the functions of an 'Appointed Actuary' (AA). (2) To be eligible for appointment as an AA, one shall be a Fellow Member of any Full Member Association of the IAA and shall - (a) hold a valid certificate of practice issued by such Full Member Association; (b) have a minimum of 2 years post-fellowship experience in the ... ... ...

3. - (1) In these regulations, unless the context otherwise requires - (a) 'Act' means the International Financial Services Centres Authority Act, 2019 (50 of 2019); (b) 'Authority' means the International Financial Services Centres Authority established under sub-section (1) of Section 4 of the Act; (c) 'appointed actuary' means an actuary appointed in terms of regulation 4 of these regulations; (d) 'board' means the board of directors of an IIO, or the B... ... ...

2. - These regulations aim to lay down the regulatory framework for the persons who are engaged by the IIOs to perform the roles and discharge the functions as 'Appointed Actuary'. =============... ... ...

INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY NOTIFICATION Gandhinagar, the 12th January, 2023 International Financial Services Centres Authority (Appointed Actuary) Regulations, 2022 No. IFSCA/2022-23/GN/REG028.- In exercise of the powers conferred by Section 28 read with Sections 12 and 13 of the International Financial Services Centres Authority Act, 2019, and clause (zd) of sub-section (2) of section 114A of the Insurance Act, 1938, the International Financial Services Centr... ... ...

Earlier insurance record-maintenance and investigation-and-inspection information requirements cease to apply in the IFSC from commencement of the 2022 framework. IIOs and IIIOs operating in the IFSC before commencement must comply with the additional requirements within six months. The Authority may permit an extended period for compliance, creating a transitional obligation for existing insurance offices and insurance intermediary offices.

The Authority may issue guidance notes or circulars to clarify difficulties in applying or interpreting insurance-record maintenance and information-submission requirements. On an application accompanied by the specified non-refundable processing fee, it may relax strict enforcement of any requirement, provided reasons for the relaxation are recorded in writing.

11. : For the purpose of implementation, facilitation of these regulations by IIOs and IIIOs and matters incidental thereto, the Authority may specify norms, procedures, processes and manners for compliance by IIOs and IIIOs. =============... ... ...

10. Every IIO and IIIO shall maintain the records for a minimum period of seven years, as prescribed under clause (8) of rule 39 of the Insurance Rules, 1939 or as per other applicable legal requirements, whichever is later: Provided that such period being counted from the date - a. of last transaction on the respective records or from the date of expiry of the policy whichever is later; b. on which the claim is settled. =============... ... ...

9. : The information, data and documents maintained by the IIO and IIIO shall be reconciled with the audited financials, wherever relevant, and as per the requirements specified under other applicable laws and regulations. The records may be maintained either in physical form or electronic form and access shall be given to the personnel authorised by the Authority. =============... ... ...

Government of Goa Department of Commercial Taxes Vikrikar Bhavan, Panaji Goa - 403001 CCT/26-4/2017-18/D/2181 Dated: 11 January, 2021 CIRCUAR (No. 08/2020-21 - GST) Subject: As a trade facilitation measure and in order to further ease the process of doing business, the GST Council in its 42nd meeting held on 05.10.2020, had recommended that registered person having aggregate turnover up to five (5) crore rupees may be allowed to furnish return on quarterly basis along wi... ... ...

8. Notwithstanding anything contained in these regulations, every manager, managing director or other officer including a service provider, contractor of an IIO and IIIO where services are outsourced by an IIO or IIIO, as the case may be, shall produce all such books of account, registers, other documents and the database in his custody or power and any statement and information relating to the affairs of the IIO or IIIO, as the case may be, to the Authority as and when demanded, including to an... ... ...

7. Every IIIO shall maintain details of all past and present employees including (i) the names of the employees, (ii) employee identification number, (iii) date of appointment, (iv) date of termination if any, (v) designation, (vi) qualification; (vii) license/Registration number, (viii) license/registration validity period, (ix) date of certificate of training completion, (x) date of passing the test, (xi) dates of renewal training in case of employees qualified for solicitation of insurance bu... ... ...

6. Every IIO shall maintain a record of its employees excluding staff or salaried field workers involved in solicitation, comprising of the (i) name; (ii) employee identification number; (iii) date of appointment; (iv) present designation; (v) PAN number; (vi) present salary; perks; (vii) allowances; any other benefits; (viii) taxes and related papers with cross-reference to appointment letter and date of termination, if any, and, (ix)in respect of any payment made to an employee or other person... ... ...

5. Every IIO and IIIO shall submit to the Authority, as and when demanded, all records, information, data, documents, books and registers maintained under the Insurance Act, 1938, any other applicable law or the rules, regulations, guidelines, circulars or directions issued thereunder; =============... ... ...