The International Financial Services Centers Authority on 03/06/2022 has issued Consultation paper on proposed IFSCA (Finance Company) (Amendment) Regulations, 2022. FC/FU intending to undertake any of the non-core activity (ies) in IFSC, shall be subject to the provisions of the respective Framework / Guidelines as specified by the Authority for that particular activity. Also, an entity carrying out multiple permissible activities under the FC regulations will have to maintain the higher of the minimum capital / owned funds / net worth prescribed for each individual activity, subject to the compliance with the respective Frameworks / Regulations governing such activities.
