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Corporate Laws Central Ministry of Finance International Financial Services Centres Authority Act, 2019

IFSCA issues Guidance on submission of requests pertaining to changes requiring prior approval/ intimation to the Authority

01-Jul-2025 | NA

IFSCA has issued the Guidance on submission of requests pertaining to changes requiring prior approval/ intimation to the Authority effective from 01 July 2025.

By virtue of this guidance note, IFSCA has outlined the process to be followed by FCs/FUs for requests pertaining to changes requiring prior approval/ intimation and the documents to be submitted in each case.

Key Highlights are as follows:-
1. Prior approval for change in the Management/control of the RE is required only for entities registered as a Finance Company and are permitted to undertake core activities. However, in the case of FCs permitted to undertake non-core activities, such as a Global/Regional Corporate Treasury Centre (GRCTC) operating as a Finance Unit, only an intimation is required, along with the submission of a formal request letter, a Board Resolution, the new shareholding pattern, and the complete group structure of the entity.
2. The application/ submission for voluntary surrender of Registration shall be made by the entity to IFSCA along with the submission of information as sought in the voluntary surrender form attached in Appendix II to the annexure.
3. A formal request letter for Pre-facto waiver/exemption/relaxation from any regulations/guidelines/circulars, shall be made along with the applicable processing fee as per the provisions of the IFSCA Fee Circular and necessary supporting documents to support the exemption/ waiver request.

Kindly refer to the attached document for more information.

Upgrade to paid version to access the Notification, Circular & Rules along with the checklist

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