Centre eases SEZ norms for IFSC funds, aircraft and ship leasing firms

New Delhi, Oct. 17 -- The Centre has amended the Special Economic Zones (SEZ) Rules, 2006, simplifying space and lease documentation for funds operating in International Financial Services Centres (IFSCs), allowing eligible aircraft and ship leasing entities to share office infrastructure and manpower, and prescribing specific criteria for renewal of approvals.

The amendments also establish the date of the first final regulatory authorisation granted by the International Financial Services Centres Authority (IFSCA) as the commencement date of service activities for IFSC units, even if that authorisation subsequently ceases to be valid.

The Ministry of Commerce and Industry's Department of Commerce notified the Special Economic Zones (Four...