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An entity with a certificate of registration or authorisation under an IFSCA framework or regulation does not need a fresh registration under the Finance Company Regulations for the same activity. The activity must be a permissible activity under regulation 5 of the Finance Company Regulations. An entity needs a certificate of registration under the Finance Company Regulations to carry out permissible activities not covered under its existing registration or authorisation.
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[Image omitted. See the official document.]
CIRCULAR
F. No 172/ IFSCA/Finance Company Regulations/2021-22/08
August 09, 2021
To, All entities operating in the International Financial Services Centres (IFSC)
Subject: International Financial Services Centres Authority (Finance Company) Regulations, 2021- Clarification
Reference is drawn to the International Financial Services Centres Authority (Finance Company) Regulations, 2021 (hereinafter referred to as ‘Finance Company Regulations’), notified on March 25, 2021.
However, a certificate of registration under Finance Company Regulations shall be required to be obtained by an entity intending to carry out such permissible activities which are not covered under the regulations/framework under which it has already been granted registration/authorisation, if any.
Yours faithfully,
(R. Kumar) Head, Department of Banking rag.kumar@ifsca.gov.in
