The International Financial Services Centres Authority issued a circular amending its 2022 Framework for Ship Leasing by removing the Explanation under clause 3.D.(ii). This change follows the inclusion of “management of physical assets” in the Third Schedule of the IFSCA TechFin and Ancillary Services Regulations, 2025, which lists services prohibited for TechFin and ancillary service providers. As a result, the earlier explanatory provision is no longer applicable within the ship leasing framework. The amendment aims to align the regulatory structure with updated restrictions and ensure clarity regarding permissible activities in IFSCs. Issued under statutory powers granted by the IFSCA Act, 2019, the circular takes immediate effect and applies to finance companies and units engaged in ship leasing activities.
International Financial Services Centres Authority
Circular No. F. No. IFSCA-FCR0SL/25/2025-Banking/2026-27/01 Dated: April 22, 2026
To,
All Finance Company/ Unit undertaking ship leasing activity in IFSC
Madam/ Sir,
Subject: Amendment to the Circular titled ‘Framework for Ship Leasing’
1. Reference may be drawn to the Circular titled “Framework for Ship Leasing” dated August 16, 2022, (hereinafter referred to as ‘Framework’), in particular to the Explanation contained in clause 3.D.(ii) of the Framework.
2. Consequent to the inclusion of “management of physical assets” in the Third Schedule of the International Financial Services Centres Authority (TechFin and Ancillary Services) Regulations, 2025, specifying the services not permitted to be provided by TechFin and Ancillary Service Provider, the Explanation contained in clause 3.D.(ii) of the Framework stands omitted.
3. This circular is issued in exercise of powers conferred by section 12 and 13 of the IFSCA Act 2019, to develop and regulate the financial products, financial services and financial institutions in the IFSCs, and shall come into force with immediate effect.
4. A copy of this circular is available on the website of the Authority at ifsca.gov.in/circular.
Yours faithfully,
Sd/-
Supriyo Bhattacharjee
(Chief General Manager)
