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Indian Laws

Home Acts & Rules Indian Laws Economic Laws - Acts International Financial Services Centres Authority Act, 2019 Chapters List This

International Financial Services Centres Authority Act, 2019
Chapter: I
PRELIMINARY
Section 1 : Short title and commencement.
Section 2 : Application.
Section 3 : Definitions.
Chapter: II
ESTABLISHMENT OF AUTHORITY
Section 4 : Establishment and incorporation of Authority.
Section 5 : Composition of Authority.
Section 6 : Terms of office and conditions of service of Chairperson and other Members.
Section 7 : Removal of Member from office.
Section 8 : Meetings of Authority.
Section 9 : Vacancies, etc., not to invalidate proceedings of Authority.
Section 10 : Administrative powers of Chairperson.
Section 11 : Officers and other employees of Authority.
Chapter: III
POWERS AND FUNCTIONS OF AUTHORITY
Section 12 : Functions of Authority
Section 13 : Powers of Authority in relation to financial products, financial services and financial institutions.
Chapter: IV
FINANCE, ACCOUNTS AND AUDIT
Section 14 : Grants by Central Government.
Section 15 : Fund of Authority.
Section 16 : Accounts and audit.
Section 17 : Performance Review Committee.
Section 18 : Maintenance of website.
Section 19 : Returns and reports
Chapter: V
FOREIGN EXCHANGE TRANSACTIONS
Section 20 : Transactions in foreign currency.
Chapter: VI
MISCELLANEOUS
Section 21 : Power to issue directions.
Section 22 : Power of Central Government to supersede Authority.
Section 23 : Delegation of powers.
Section 24 : Members, officers and employees of the Authority to be public servants.
Section 25 : Protection of action taken in good faith.
Section 26 : Exemption from tax.
Section 27 : Power to make rules.
Section 28 : Power to make regulations.
Section 29 : Rules and regulations to be laid before Parliament.
Section 30 : Overriding effect.
Section 31 : Power to modify provisions of other enactments in relation to International Financial Services Centres
Section 32 : Power to remove difficulties.
Section 33 : Amendment to certain enactments.
Section 34 : Savings.
SCHEDULES
SCH-01 : FIRST SCHEDULE
SCH-02 : SECOND SCHEDULE
 
 
 

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