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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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