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The International Financial Services Centres Authority Act, 2019

[Act No. 50 of 2019]

[19th December, 2019.]

Title The International Financial Services Centres Authority Act, 2019
Sections ptericulars
Chapter I Preliminary
1. Short title and commencement
2. Application
3. Definitions
Chapter II Establishment of Authority
4. Establishment and incorporation of Authority
5. Composition of Authority
6. Terms of office and conditions of service of Chairperson and other Members
7. Removal of Member from office
8. Meetings of Authority
9. Vacancies, etc., not to invalidate proceedings of Authority
10. Administrative powers of Chairperson
11. Officers and other employees of Authority
Chapter III Powers and Functions of Authority
12. Functions of Authority
13. Powers of Authority in relation to financial products, financial services and financial institutions
Chapter IV Finance, Accounts and Audit
14. Grants by Central Government
15. Fund of Authority
16. Accounts and audit
17. Performance Review Committee
18. Maintenance of website
19. Returns and reports
Chapter V Foreign Exchance Transactions Sections
20. Transactions in foreign currency
Chapter VI Miscellaneous
21. Power to issue directions
22. Power of Central Government to supersede Authority
23. Delegation of powers
24. Members, officers and employees of the Authority to be public servants
25. Protection of action taken in good faith
26. Exemption from tax
27. Power to make rules
28. Power to make regulations
29. Rules and regulations to be laid before Parliament
30. Overriding effect
31. Power to modify provisions of other enactments in relation to International Financial Services Centres
32. Power to remove difficulties
33. Amendment to certain enactments
34. Savings
The Schedules
Schedule I Appropriate Regulators
Schedule II Amendment to Certain Enactments Part I Amendment to The Reserve Bank of India Act, 1934 (2 of 1934)

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