RESERVE BANK OF INDIA Foreign Exchange Department Central Office Mumbai -400 001 — THE FOREIGN EXCHANGE MANAGEMENT ACT, 1999

RESERVE BANK OF INDIA Foreign Exchange Department Central Office Mumbai -400 001 Notification No. FEMA. 339/2015 - RB Dated: March 02, 2015 Foreign Exchange Management (International Financial Services Centre) Regulations, 2015 In exercise of the powers conferred by section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank makes the following regulations relating to financial institutions set up in International Financial Services Centres, namely:- 1. Short title and commencement: - These regulations may be called the Foreign Exchange Management (International Financial Services Centre) Regulations, 2015. They shall come into force from the date of their publication in the Official Gazette. 2. Definitions: - In these Regulations unless the context requires otherwise , - (a) 'Act' shall mean the Foreign Exchange Management Act, 1999 (42 of 1999); (b) 'Financial Institution' shall include (i) a company, or (ii) a firm, or (iii) an association of persons or a body of individuals, whether incorporated or not, or (iv) any artificial juridical person, not falling within any of the preceding categories engaged in rendering financial services or carrying out financial transactions. Explanation: For the purpose of this sub-regulation, and without any loss of generality of the above, the expression 'financial institution' shall include banks, non-banking financial companies, insurance companies, brokerage firms, merchant banks, investment banks, pension funds, mutual funds, trusts, exchanges, clearing houses, and any other entity that may be specified by the Government of India or a Financial Regulatory Authority. (c) 'Financial service' shall mean activities a financial institution is allowed to carry out as specified in the respective Act of the Par