CAM GIFT City IFSC Updates
International Financial Services Centres Authority (Investment by International Financial Services Centre Insurance Office) (Amendment) Regulations, 2024
On October 14, 2024 , IFSCA notified the International Financial Services Centres Authority (Investment by International Financial Services Centre Insurance Office) (Amendment) Regulations, 2024 (“Investment Amendment”) to amend the IFSCA (Investment by International Financial Services Centre Insurance Office) Regulations, 2022 (“Investment by IIO Regulations”).
Key Amendments:
However, there are certain relaxations for investments in passively managed/index-based mutual funds and exchange traded funds, where the exposure limits (except for 5% within IIOs own group) are applicable after three years from the launch of fund or Asset under Management of fund becomes equal to or more than USD 25 million.
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The notification is available here
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