The International Financial Services Center Authority, (IFSCA) on October 25, 2023, issued a notification regarding the procedure for implementation of Section 12A of The Weapons of Mass Destruction and their Delivery Systems (Prohibition of Unlawful Activities) Act, 2005 which specifies that no person shall finance any activity which is prohibited under the United Nations Security Council Act 1947 or any relevant Act.
This has a reference to the F.No. P-12011/14/2022-ES Cell-DOR issued an Order dated 01 September 2023 related to the procedure for implementation of Section 12A of The Weapons of Mass Destruction and their Delivery Systems (Prohibition of Unlawful Activities) Act, 2005
The following has been stated namely: -
• It states that the MoF Order is applicable to the International Financial Services Authority and all the regulated entities in the International Financial Services Centre, GIFT City (’IFSC’).
• It further states that the undersigned, UAPA Nodal Officer & Head – Division of AML & CFT has been designated as Nodal Officer for implementation of Section 12A of the Act.
[Circular No. F. No. 1110/IFSCA/Div. of AML & CFT/WMD Act/2023-24/01]
