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JC - Legal Updates - IFSCA framework for ship leasing

Legal Updates

18 Aug 2022

IFSCA framework for ship leasing

The International Financial Services Centres Authority (“IFSCA”) in order to facilitate the ship leasing business in the International Financial Services Centres in India has specified a framework for entities to get registered under International Financial Services Centres Authority (Finance Company) Regulations, 2021.

The IFSCA has notified ‘ship lease’ as a financial product vide gazette notification dated 7th January 2022. As per the said notification, the ‘ship lease’ shall include operating lease, and hybrid of operating and financial lease, of a ship or ocean vessel, engines of ship or ocean vessel, or any other part thereof, as a financial product under section 3(1)(d) of the International Financial Services Centres Authority Act, 2019.

Framework for Ship Leasing - Finance Company/Unit 

For any further information, please contact Mr. Saurabh Sharma (saurabh.sharma@jclex.com), Mr. Ankit Sinha (ankit.sinha@jclex.com), Ms. Teza Jose (teza.jose@jclex.com), or Ms. Rupul Jhanjee (rupul.jhanjee@jclex.com).