Question
According to the IFSCA Circular on Off-Shoring the
On-Shore (May 2024), under what condition is a finance company with a Certificate of Registration (CoR) prohibited from engaging in ship or vessel leasing transactions?Solution
The circular restricts finance companies registered under the FC Regulations from engaging in transactions involving the transfer of ownership or leasehold rights of ships or vessels if the transfer is to a person resident in India.
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