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Date: 01-Jan-2024 Category: Extra Ordinary State: Union Government Country: India

The International Financial Services Centres Authority IFSCA, having considered the application for grant of renewal of recognition under Regulation

Issued by International Financial Services Centres Authority · Not Applicable

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Executive Summary & Key Takeaways

What it means

  • The gazette notification announces the renewal of recognition to India International Exchange (IFSC) Limited by the International Financial Services Centres Authority (IFSCA).

Key Changes

  • IFSCA has renewed the recognition of India International Exchange (IFSC) Limited for a period of one year.
  • The renewal period starts on December 29, 2023, and ends on December 28, 2024.
  • The renewal is subject to the conditions specified by IFSCA from time to time.
  • The decision is made under Section 12 of The International Financial Services Centres Authority Act, 2019 and Section 4 of the Securities Contracts (Regulation) Act, 1956, read with Regulation 9 of the IFSCA (Market Infrastructure Institutions) Regulations, 2021.

Impact Analysis

Impact on India International Exchange (IFSC) Limited

  • The exchange needs to ensure ongoing compliance with IFSCA's specified conditions to maintain its recognition.

Impact on Investors and Traders

  • The renewal ensures regulatory oversight and investor protection.

Impact on IFSCA

  • IFSCA is responsible for monitoring the exchange's compliance with the specified conditions.

Suggested Action Items

  • IFSCA should continue to monitor the exchange's activities and compliance.

Key Entities Referenced

International Financial Services Centres Authority (IFSCA): The regulatory authority responsible for regulating financial services in International Financial Services Centres (IFSCs) in India. India International Exchange (IFSC) Limited: An international stock exchange located in the GIFT City IFSC, Gandhinagar. The International Financial Services Centres Authority Act, 2019: The Act that establishes the IFSCA and defines its powers and functions. The Securities Contracts (Regulation) Act, 1956: An Act to prevent undesirable transactions in securities by regulating the business of dealing therein. International Financial Service Centres Authority (Market Infrastructure Institutions) Regulations, 2021: Regulations governing Market Infrastructure Institutions in IFSCs.
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रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-जी.जे.-अ.-02012024-251077 xxxGIDHxxx CG-GJ-E-02012024-251077 xxxGIDExxx असाधारण EXTRAORDINARY भाग III—खण् ड 4 PART III—Section 4 प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 05] नई दि्ली, सोििार, िनिरी 1, 2024/पौर् 11, 1945 No. 05] NEW DELHI, MONDAY, JANUARY 1, 2024/PAUSHA 11, 1945 अतं रराष्ट्रीय जित्तीय सिे ा केंद्र प्राजधकरण अजधसचू ना गांधीनगर, 28 दिसम् बर, 2023 आई.एफ.एस.सी.ए./इंजडया आई.एन.एक्स/ निीकरण/ 2023-24.—अतं रराष्ट्रीय जित्तीय सेिा केन्द्द्र प्राजधकरण (आई.एफ.एस.सी.ए.), इंजडया इंटरनेिनल एक्सचेंि (आई.एफ.एस.सी.) जलजिटेड, प्रथि तल, यूजनट स.ं 101, दि जसग्नेचर जबल्डंग स.ं 13बी, रोड 1सी, जोन 1, जगफ्ट सेज, जगफ्ट जसटी गांधीनगर-382355 द्वारा अतं रराष्ट्रीय जित्तीय सेिा केन्द्द्र प्राजधकरण (बाजार अिसंरचना संस्ट्था) जिजनयि, 2021 के जिजनयि 12 के अधीन िान्द्यता का निीकरण प्रिान करने के जलए दकए गए आिेिन पर जिचार करने और यह सिाधान हो िाने के पश्चात ् दक ऐसा करना व्यापार के जहत ि,ें प्रजतभूजत बाजार के जहत ि ें और लोक जहत ि ें भी होगा, अंतरराष्ट्रीय जित्तीय सेिा केन्द्द्र प्राजधकरण (बाजार अिसंरचना संस्ट्था) जिजनयि, 2021 के जिजनयि 9 के साथ पठित अंतरराष्ट्रीय जित्तीय सेिा केन्द्द्र प्राजधकरण अजधजनयि, 2019 की धारा 12 और प्रजतभूजत संजििा (जिजनयिन) अजधजनयि, 1956 की धारा 4 द्वारा प्रित्त िजियों का प्रयोग करत े हुए, उसे 29 दिसम्बर, 2023 स े प्रारंभ होन े िाली और 28 दिसम्बर, 2024 को सिाप्त होने िाली एक िर्ष की अिजध के जलए, इसि ें इसके नीच े कजथत ितों या इसके पश्चात ् जिजहत या अजधरोजपत की िान े िाली ितों के अधीन रहत े हुए, प्रजतभूजतयों ि ें संजििाओं की बाबत उि एक्सचेंि की िान्द्यता का निीकरण िंिूर करता ह ै: एक्सचेंि, आई.एफ.एस.सी.ए. द्वारा सिय-सिय पर जिजनर्िषष्ट ितों का अनपु ालन करेगा । के. रािारािन, अध्यक्ष [जिज्ञापन-III/4/असा./659/2023-24] 26 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC.4] INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY NOTIFICATION Gandhinagar, the 28th December, 2023 IFSCA/India INX/Renewal/2023-24.—The International Financial Services Centres Authority (IFSCA), having considered the application for grant of renewal of recognition under Regulation 12 of the International Financial Service Centres Authority (Market Infrastructure Institutions) Regulations, 2021 by India International Exchange (IFSC) Limited, 1st Floor, Unit No. 101, The Signature Building No. 13B, Road 1C, Zone 1, GIFT SEZ, GIFT CITY Gandhinagar-382355, and being satisfied that it would be in the interest of the trade, in the interest of securities market and also in the public interest to do so, hereby grants, in exercise of the powers conferred by section 12 of The International Financial Services Centres Authority Act, 2019 and section 4 of the Securities Contracts (Regulation) Act, 1956 read with regulation 9 of the IFSCA (Market Infrastructure Institutions) Regulations, 2021, renewal of recognition to the said Exchange for one year, commencing on the 29th day of December, 2023 and ending on the 28th day of December, 2024 in respect of contracts in securities subject to the conditions stated herein below or as may be prescribed or imposed hereafter: • The Exchange shall comply with conditions specified by IFSCA from time to time. K. RAJARAMAN, Chairperson [ADVT.-III/4/Exty./659/2023-24] 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.

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