Special
Economic Zones Rules, 2006
Chapter 3
Procedure for establishment of a unit
21. Offshore Banking Unit. -
(1)
The application
for
setting
up
and operation
of Offshore Banking
Unit
in Special
Economic
Zone shall
be made
to the Reserve
Bank of
India in
the
Form VI
prescribed
under Banking
Regulation (Companies)
Rules, 1949
under section
23
of
the
Banking
Regulation
Act,
1949.
(2)
The
terms
and
conditions
subject
to
which
an
Offshore
Banking
Unit
may
be
set
up and
operated
in
a
Special
Economic
Zone
shall
be
as
specified
in
the
Notification number
FEMA
71/2002-RB
dated 7th September,
2002
by
the
Reserve
Bank of
India,
as amended
from
time
to
time.