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Industry specific- SEZ Central Ministry of Commerce and Industry Special Economic Zones Act, 2005

Special Economic Zones (Second Amendment) Rules, 2023

27-Apr-2023 | G.S.R. 334(E)

Ministry of Commerce and Industry has issued the Special Economic Zones (Second Amendment) Rules, 2023, which came into effect on 1st May 2023. As per the amendment, rule 53A of the Special Economic Zones Rules, 2006 has been substituted. The new rule states: 53A. Exemption. - Nothing contained in rule 53 shall apply to a Unit set up in an International Financial Service Centre providing financial service and regulated by the International Financial Services Centres Authority. Explanation. - For the purpose of this rule, "financial service" shall have the meaning as assigned to it in clause (e) of sub-section (1) of section 3 of the International Financial Services Centres Authority Act, 2019 and International Financial Service Centre shall have the meaning as assigned to it in clause (g) of sub-section (1) section 3 of that Act.

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