Investment of own funds (excluding funds lying in Core Settlement Guarantee Fund) by Clearing Corporations in International Financial Services Centre (IFSC)
Summary
SEBI has amended the investment policy for Clearing Corporations in the International Financial Services Centre (IFSC) to permit investments in AAA rated Foreign Sovereign Securities. This permission is subject to a limit where such investments cannot exceed ten percent of the total investible resources, excluding funds in the Core Settlement Guarantee Fund. The circular was issued under Section 11(1) of the SEBI Act, 1992 to regulate the securities market and protect investor interests.
Text
permit the Clearing Corporations in IFSC to invest their own funds in AAA rated Foreign Sovereign Securities
issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992
Source: SecMarx — Investment of own funds (excluding funds lying in Core Settlement Guarantee Fund) by Clearing Corporations in International Financial Services Centre (IFSC). Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.