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Core Purpose

Grant of renewal of recognition to India International Clearing Corporation (IFSC) Limited under the International Financial Services Centres Authority (Market Infrastructure Institutions) Regulations, 2021.

Detailed Summary

The International Financial Services Centres Authority (IFSCA), in Notification IFSCA/India ICC/Renewal/2023-24 dated 28th December 2023 issued from Gandhinagar, having considered the renewal application under Regulation 12 of the International Financial Services Centres Authority (Market Infrastructure Institutions) Regulations, 2021 filed by India International Clearing Corporation (IFSC) Limited (1st Floor, Unit No. 102, The Signature Building No. 13B, Road 1C, Zone 1, GIFT SEZ, GIFT City, Gandhinagar-382355), and being satisfied it would serve the interest of trade, the securities market and the public interest, granted, in exercise of powers under Section 12 of the International Financial Services Centres Authority Act, 2019 and sub-section (4) of Section 8A of the Securities Contracts (Regulation) Act, 1956 read with Regulation 9 of the said 2021 Regulations, renewal of recognition to the Clearing Corporation for one year commencing 29th December 2023 and ending 28th December 2024 in respect of contracts in securities, subject to conditions specified by IFSCA from time to time; the notification was signed by K. Rajaraman, Chairperson.

Full Text

REGD. No. D. L.-33004/99 The Gazette of India CG-GJ-E-02012024-251094 EXTRAORDINARY PART III-Section 4 PUBLISHED BY AUTHORITY No. 3] NEW DELHI, MONDAY, JANUARY 1, 2024/PAUSHA 11, 1945 24 GI/2024 INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY NOTIFICATION Gandhinagar, the 28th December, 2023 IFSCA/India ICC/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 Clearing Corporation (IFSC) Limited, 1st Floor, Unit No. 102, 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 sub-section (4) of section 8A of the Securities Contracts (Regulation) Act, 1956 read with regulation 9 of the International Financial Services Centres Authority (Market Infrastructure Institutions) Regulations, 2021, renewal of recognition to the said Clearing Corporation 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 Clearing Corporation shall comply with conditions specified by IFSCA from time to time. K. RAJARAMAN, Chairperson [ADVT.-III/4/Exty./658/2023-24]

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