IFSCA (Bullion Exchange) (Amendment) Regulations, 2021

Last updated: 09 July 2021

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The International Financial Services Centres Authority (IFSCA) has issued amendments to the Bullion Exchange Regulations of 2020. These changes, effective from their publication in the Official Gazette, introduce several modifications to existing regulations. Key updates include adjustments to wording, substitutions of terms, and the insertion of new clauses and regulations. Notably, the amendments clarify definitions, correct terminology, and establish precedence for the Market Infrastructure Institutions Regulations, 2021 in cases of conflict.

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 Authori

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FAQ :

These regulations come into force on the date of their publication in the Official Gazette.

The purpose is to amend the International Financial Services Centres Authority (Bullion Exchange) Regulations, 2020.

Yes, in regulation 21, the word 'stock' is substituted with the word 'bullion' in two sub-regulations. Additionally, the word 'stock' is omitted from regulation 20, sub-regulation (2), clause (iii).

In case of any conflict or inconsistency, the provisions of the International Financial Services Centres Authority (Market Infrastructure Institutions) Regulations, 2021 shall prevail.

Yes, several regulation references have been updated. For example, regulation 6, sub-regulation (7) now refers to 'regulation 4' instead of 'regulation 3', and regulation 31 references are changed from '3, 5 and 6' to '4, 6 and 7'.

Notification No : F. No. IFSCA/2021-22/GN/REG014
Source : https://ifsca.gov.in/Viewer/Index/196

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