Section 3 of IFSCA : Section 3: Definitions
IFSCA
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Explanation using Example
Imagine a company named "Global Wealth Management Ltd." that wants to establish a new branch within an International Financial Services Centre (IFSC) in India. They plan to offer various financial services such as asset management, insurance, and wealth advisory to their clients. To operate in the IFSC, they need to understand the definitions provided in Section 3 of The International Financial Services Centres Authority Act, 2019:
- They need to know who the "appropriate regulator" is for compliance purposes. This could be the Reserve Bank of India (RBI) for banking services, the Securities and Exchange Board of India (SEBI) for securities and investment products, or other regulators as specified in the Act.
- The term "Author...
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