International Financial Services Centres Authority (IFSCA) has issued a corrigendum to its Registration of Factors and Registration of Assignment of Receivables Regulations, 2024, originally published on November 18, 2024. The corrections primarily involve formatting changes, replacing Roman numerals with standard numerical notation across multiple regulations. Additionally, specific references have been revised, such as correcting “clause 50” to “clause 51” in Regulation 3 and changing “sub-section (sa)” to “clause (sa)” in Regulation 3(k). Other modifications include renumbering Regulations 6, 7, and 8 as Regulations 5, 6, and 7, respectively. These updates ensure consistency and accuracy in the regulatory framework governing factors and the assignment of receivables within International Financial Services Centres (IFSCs).
INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY
CORRIGENDUM
Ghandhinagar, the 4th February, 2025
IFSCA/GN/2024/012.—. In the notification of International Financial Services Centres Authority, the International Financial Services Centres Authority (Registration of Factors and Registration of Assignment of Receivables) Regulations, 2024, published in the Gazette of India, Extraordinary, Part III, Section 4, vide notification number IFSCA/GN/2024/012 dated the 18th November, 2024, –
1. In regulation 1, the figure and mark “i.” and “ii.” shall be read as “(1).” and (2).”, respectively.
2. In regulation 2, the figure and mark “i.” and “ii.” shall be read as “(1).” and (2).”, respectively.
3. In regulation 3, the figure and mark “i.” and “ii.” shall be read as “(1).” and “(2).”, respectively.
4. In clause (i) of sub-regulation i. of regulation 3, the word and figure “clause 50” shall be read as “clause 51”.
5. In clause (k) of sub-regulation i. of regulation 3, the word “sub-section (sa)” shall be read as “clause (sa)”.
6. In regulation 4, the figure and mark “i.”, “ii.”, “iii.”, “iv.” and “v.” shall be read as “(1).”, “(2).”, “(3).”, “(4).” and “(5).”, respectively.
7. In sub-regulation ii. of regulation 4, the word and figure “sub-regulation (i)”, shall be read as “sub-regulation (1)”.
8. In regulation 6, the figure and mark “i.” and “ii.” shall be read as “(1).” and “(2).”, respectively.
9. In sub-regulation (ii) of regulation 6, the words and figure “clause (i) (a) and (i) (b)” shall be read as “clause (a) and (b) of sub-regulation (1)”.
10. The regulation 6, 7 and 8 shall be read as regulation 5, 6 and 7, respectively.
11. In regulation 7, the figure and mark “i.”, “ii.” and “iii.” shall be read as “(1).” “(2).” and “(3).”, respectively.
12. In the regulation 8, the figure and mark “i.”, “ii.” and “iii.” shall be read as “(1).” “(2).” and “(3).”, respectively.
K. RAJARAMAN, Chairperson
[ADVT.-III/4/Exty./969/2024-25]
