IFSCA (Bullion Exchange) (Amendment) Regulations, 2021

INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY
NOTIFICATION
Gandhinagar, the 5th July, 2021

INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY (BULLION EXCHANGE) (AMENDMENT) REGULATIONS, 2021

F. No. IFSCA/2021-22/GN/REG014.- In exercise of the powers conferred by sub-section (1) of Section 28 read with sub-section (1) of Section 12 and sub-section (1) of Section 13 of the International Financial Services Centres Authority Act, 2019, the International Financial Services Centres Authority hereby makes the following regulations to amend the International Financial Services Centres Authority (Bullion Exchange) Regulations, 2020, namely: –

1. These regulations may be called the International Financial Services Centres Authority (Bullion Exchange) (Amendment) Regulations, 2021.

2. They shall come into force on the date of their publication in the Official Gazette.

3. In the International Financial Services Centres Authority (Bullion Exchange) Regulations, 2020,

I. in regulation 2, in sub-regulation (1), in clause (l), the word “and” shall be inserted after the word “established” and before the word “recognised”;

II. in regulation 4, in sub-regulation (2), the word “Anybody” shall be substituted with the words “Any body”;

III. in regulation 6, in sub-regulation (7), the words and figures “regulation 3” shall be substituted with the words and figures “regulation 4”;

IV. in regulation 20,

(i) in sub-regulation (2), in clause (iii), the word “stock” shall be omitted;

(ii) in sub-regulation (3), the word “as” shall be inserted after the word “conditions” and before the word “may”;

V. in regulation 21,

(i) in sub-regulation (2), the word “stock” shall be substituted with the word “bullion”;

(ii) in sub-regulation (3), the word “stock” shall be substituted with the word “bullion”;

VI. in regulation 28, in sub-regulation (2), the word “sub-rule” shall be substituted with the word “subregulation”;

VII. in regulation 31, the figures, words and symbols “3, 5 and 6” shall be substituted with the figures, words and symbols “4, 6 and 7”;

VIII. in regulation 41, in sub-regulation (2), the word “prescribed” shall be substituted with the word “specified”;

IX. in regulation 43, in sub-regulation (1), the figure “43” shall be substituted with the figure “44”;

X. in regulation 48, in sub-regulation (1), the word “provided” shall be substituted with the word “specified”;

XI. in regulation 52,

(i) in sub-regulation (2), the figure “50” shall be substituted with the figure “51”;

(ii) in sub-regulation (5), the words “by the Authority” after the word “registration” shall be omitted;

XII. in regulation 53, in sub-regulation (4), the word “the” shall be substituted with the word “its”;

XIII. after regulation 58, the following heading and regulation shall be inserted, namely:

“Miscellaneous

59. In case of any conflict or inconsistency of the provisions of these regulations with the International Financial Services Centres Authority (Market Infrastructure Institutions) Regulations, 2021 on the same subject matter, the provisions of International Financial Services Centres Authority (Market Infrastructure Institutions) Regulations, 2021 shall prevail.”

INJETI SRINIVAS, Chairperson
[ADVT.-III/4/Exty./144/2021-22]

Note: The International Financial Services Centres Authority (Bullion Exchange) Regulations, 2020 were published in the Gazette of India Extraordinary vide notification No. IFSCA/2020-21/GN/REG005 on December 11, 2020.