Home› India› Ministry of Commerce and Industry› Publication of Notification for Amendment in SEZ Rules, 2006...
Date: 24-Feb-2023 Category: Extra Ordinary State: Union Government Country: India

Publication of Notification for Amendment in SEZ Rules, 2006

Issued by Ministry of Commerce and Industry · Department of Commerce

Research with AI Agent Chat with Document Generate Summary Translate Helpful Share Add to Project Create Task

Executive Summary & Key Takeaways

What it means

  • The gazette notification introduces the Special Economic Zones (Amendment) Rules, 2023, which amends the Special Economic Zones Rules, 2006.
  • The amendment allows units in International Financial Services Centres (IFSC) authorized to undertake aircraft leasing activities to share office space, manpower, or both with another unit in the same IFSC that is also authorized for aircraft leasing, provided they are permitted by the International Financial Services Centre Authority not to maintain a separate office.

Key Changes

  • Insertion of new rule 21B in the Special Economic Zones Rules, 2006.
  • Rule 21B permits aircraft leasing units within an IFSC to utilize the office space, manpower, or both of another authorized aircraft leasing unit in the same IFSC, subject to approval by the International Financial Services Centre Authority, if they are not required to maintain a separate office.

Impact Analysis

Impact on Aircraft Leasing Companies in IFSCs

  • Action Item: Aircraft leasing companies should seek approval from the International Financial Services Centre Authority for resource sharing arrangements.

Impact on International Financial Services Centre Authority

  • Action Item: The IFSC Authority should develop guidelines for monitoring and enforcing resource sharing arrangements to ensure compliance and prevent misuse.

Impact on Government

  • Action Item: The government should review and update regulations as needed to further support the development of the aircraft leasing sector in IFSCs.

Key Entities Referenced

Central Government: The entity issuing the notification and responsible for amending the Special Economic Zones Rules, 2006. Special Economic Zones Act, 2005 (28 of 2005): The Act that empowers the Central Government to make rules for Special Economic Zones. Special Economic Zones Rules, 2006: The rules being amended by this notification. International Financial Services Centre (IFSC): A special economic zone that provides financial services to non-residents and residents, often with more liberal regulations. International Financial Services Centre Authority: The regulatory body overseeing the operations of IFSCs, responsible for approving resource sharing arrangements between aircraft leasing units. Ministry of Commerce and Industry (Department of Commerce): The ministry responsible for the notification.
Official Source Record View Original Source →
See Full Document Text
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 xxxGIDHxxx सी.जी.-डी.एलxx.x-GअID.-E2x4xx0 22023-243893 CG-DL-E-24022023-243893 असाधारण EXTRAORDINARY भाग II—खण् ड 3—उप-खण्ड (i) PART II—Section 3—Sub-section (i) प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 103] नई ददल्ली, िुिवार, फरवरी 24, 2023/फाल्ग नु 5, 1944 No. 103] NEW DELHI, FRIDAY, FEBRUARY 24, 2023/PHALGUNA 5, 1944 वाजणज्य और उद्योग मत्रं ालय (वाजणज्य जवभाग) अजधसचू ना नई ददल्ली, 23 फरवरी, 2023 सा.का.जन. 125(अ).—केंद्रीय सरकार, जविेष आर्थथक िोन अजधजनयम, 2005 (2005 का 28) की धारा 55 द्वारा प्रदत्त िजियों का प्रयोग करते हुए, जविेष आर्थथक िोन जनयम, 2006 का और संिोधन करन े के जलए जनम्नजलजखत जनयम बनाती ह,ै अथाात:् - 1. (1) इन जनयमों का संजिप्त नाम जविेष आर्थथक िोन (संिोधन) जनयम, 2023 ह।ै (2) ये रािपत्र में उनके प्रकािन की तारीख को प्रवृत्त होंगे। 2. जविेष आर्थथक िोन जनयम, 2006 म,ें जनयम 21क के पश्चात जनम्नजलजखत जनयम अंतस्ट्थाजपत दकया िाएगा; अथाात:्- “21ख. वायुयान को पट्टे पर दने े के संबंधी दियाकलाप यूजनटें - अन्तरराष्ट्रीय जवत्तीय सेवा केन्द्र म ें कोई यूजनट िो वायुयान को पट्टे पर दने े के जलए प्राजधकृत ह,ै यदद उसे अन्तरराष्ट्रीय जवत्तीय सेवा केन्द्र प्राजधकरण द्वारा अलग स े कायाालय अनुरजित न करने के जलए अनुज्ञापन दकया िाए तो वायुयान को पट्टे पर देने संबंधी दियाकलाप करने के जलए प्राजधकृत अन्तरराष्ट्रीय जवत्तीय सेवा केन्द्र में स्ट्थाजपत, दकसी अन्य यूजनट के कायाालय स्ट्थान या िनिजि या दोनों का, उपयोग कर सकेगी ।" [फा. सं. के-43013(12)/1/2022-एसईिेड] जवपुल बंसल, संयुि सजचव 1236 GI/2023 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(i)] टटप्पण : मलू जनयम भारत के रािपत्र, असाधारण, भाग-II, खंड 3, उपखंड (i) में अजधसूचना संख्या सा.का.जन. 54(अ), तारीख 10 फरवरी, 2006 के में प्रकाजित दकए गए थ े और अंत में अजधसूचना संख्या सा.का.जन. 868(अ), तारीख 8 ददसंबर, 2022 द्वारा संिोजधत दकए गए थे। MINISTRY OF COMMERCE AND INDUSTRY (Department of Commerce) NOTIFICATION New Delhi, the 23rd February, 2023 G.S.R. 125(E).—In exercise of the powers conferred by section 55 of the Special Economic Zones Act, 2005 (28 of 2005), the Central Government hereby makes the following rules further to amend the Special Economic Zones Rules, 2006, namely: - 1. (1) These rules may be called the Special Economic Zones (Amendment) Rules, 2023. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Special Economic Zones Rules, 2006, after rule 21A, the following rule shall be inserted, namely: - “21B.Units dealing with aircraft leasing activities. - A Unit in an International Financial Services Centre, authorised to undertake aircraft leasing activity, if allowed by the International Financial Services Centre Authority not to maintain separate office, may utilise office space or manpower or both, of another unit set up in International Financial Services Centre authorised to undertake aircraft leasing activity, as may be approved by the Authority.". [F. No. K-43013(12)/1/2022-SEZ] Vipul Bansal, Jt. Secy. Note : The principal rules were published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (i), vide notification number G.S.R 54(E), dated the 10th February, 2006 and lastly amended vide notification number G.S.R. 868(E), dated the 8th December, 2022. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

Continue your research

Related Documents from Ministry of Commerce and Industry