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    Question

    In the IFSCA circular July 2025 relating to changes by

    a Finance Company/Finance Unit (FC/FU) in an IFSC, which of the following is correctly described?
    A Any change to a key management person (KMP) of an FC/FU may be handled purely by post‐facto intimation to IFSCA. Correct Answer Incorrect Answer
    B The guidance note sets out which kinds of changes require prior approval and which only require intimation. Correct Answer Incorrect Answer
    C The circular exempts FCs/FUs in IFSCs from obtaining any approval or intimation for changes up to USD 10 million in capital. Correct Answer Incorrect Answer
    D The document reforms the net-worth requirement for FC/FUs in IFSCs to USD 1 million. Correct Answer Incorrect Answer
    E The circular grants an automatic ‘blanket’ approval for all changes requested before 30 September 2025. Correct Answer Incorrect Answer

    Solution

    The circular provides a Guidance Note outlining “the process to be followed by FCs/FUs for such requests and the documents to be submitted in each case”.

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