International Financial Services Centres Authority specifies ‘ship lease’ which shall include operating lease, and hybrid of operating and financial lease, of a ship or ocean vessel, engines of ship or ocean vessel, or any other part thereof, as a financial product under section 3(1)(d) of the International Financial Services Centres Authority Act, 2019.
INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY
NOTIFICATION
Gandhinagar, the 7th January, 2022
F. No. IFSCA/2021-22/GN/021.—In exercise of the powers conferred by section 12 of the International Financial Services Centres Authority Act, 2019 (50 of 2019) (hereinafter referred as the “said Act”) read with notification number S.O.5199 (E) dated 14th December, 2021 issued by Ministry of Finance, Government of India, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (ii), dated the 14th December, 2021, the Authority hereby specifies ‘ship lease’ which shall include operating lease, and hybrid of operating and financial lease, of a ship or ocean vessel, engines of ship or ocean vessel, or any other part thereof, as a financial product under clause (d) of sub-section (1) of section 3 of the said Act.
2. This notification shall come into force on the date of publication in the Official Gazette.
INJETI SRINIVAS, Chairperson
[ADVT.-III/4/Exty./562/2021-22]
