In exercise of the powers conferred by sub section 1 of Section 28 read with Section 12 and 13 of the International Financial Services Centres Authority Act

EXTRAORDINARY PART III—Section 4 PUBLISHED BY AUTHORITY No. 732] NEW DELHI, FRIDAY , OCTOBER 27 , 2023/ KARTIKA 5, 1945 CG-GJ-E-27102023-249760 INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY NOTIFICATION Gandhinagar, the 25th October, 2023 International Financial Services Centres Authority (Investment by International Financial Services Centre Insurance Office) (Amendment) Regulations, 2023 No. IFSCA/2023 -24/GN/REG 042.—In exercise of the powers conferred by sub -section (1) of Section 28 read with Section 12 and 13 of the Internatio nal Financial Services Centres Authority Act, 2019, the International Financial Services Centres Authority hereby makes the following Regulations to amend the International Financial Services Centres Authority (Investment by International Financial Service s Centre Insurance Office) Regulations, 2022 namely: - 1. Short title and commencement: - (1) These Regulations may be called the International Financial Services Centres Authority (Investment by International Financial Services Centre Insurance Office) (Amendment) Regulations, 2023; (2) They shall come into force from the date of their publication in the Official Gazette. 2. In the clause (b) of sub -regulation (7) of regulation 5, the words “on Foreign Portfolio Investment,” shall be omitted. 3. In the clause (b) of sub -regulation (7) of regulation 5, after “Reserve Bank of India”, the word “and” shall be substituted with the word “or”. 4. In the regulation 5, after sub -regulation (8) the following shall be inserted, namely - “(9) Nothing contained in Regulations 10, 11, 12 and 13 of these regulations shall be applicable to an IIO investing its retained p remium in DTA , if the investment is done to comply with the condition specified under sub-clause (b) of clause (A) of sub -regulation (2) of regulation 5 of the IRDAI (Re -insurance) Regulation, 2018. Explanation – The mode and manner for such investment s shall be in accordance with these regulations;” 5. In regulation 20, the words “Repeals and Savings: ” shall be substituted with words “Non-applicability of certain regulations and savings: ” K. RAJARAMAN , Chairperson [ADVT. -III/4/Ext y./51 4/2023 -24] Note : The International Financial Services Centres Authority (Investment by International Financial Services Centre Insurance Office) Regulations, 2022 were published in the Gazette of India Extraordinary vide notification No. IFSCA/2022 -23/GN/REG030 on 13th January, 2023. 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.