The International Financial Services Centres Authority (IFSCA) on July 10, 2014, issued the Consultation Paper on proposed amendments to the International Financial Services Authority (Registration of Insurance Business) Regulations, 2021.
The following has been stated namely: -
• In regulation 10 which states “Permissible Activities” the following second proviso has been inserted namely: -"Provided further that at the time of making the application, the applicant shall opt for the category as specified in sub-regulation (2), clause (A) of Regulation 5 of the Insurance Regulatory and Development Authority of India (Re-insurance) Regulations, 2018, under which it intends to participate in reinsurance business emanating from the DTA "
• FORM-A, FORM-B, FORM-C, and FORM-D in FIRST SCHEDULE of these regulations shall be omitted.
• FORM A and FORM B in FOURTH SCHEDULE of these regulations shall be omitted
Comments/suggestions, if any, may be sent through e-mail to Insurance Dept. at [email protected] with a copy to Mr. Bhaskar Khadakbhavi at [email protected] and Rishi Kale at [email protected] by July 30, 2024 in the prescribed format. It is further requested to provide comments in MS Word or MS Excel format only.
