Powers of Authority in relation to financial products, financial services and financial institutions.

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..... ny other law for the time being in force, all powers exercisable by an appropriate regulator, specified under column (2) of the First Schedule, under the respective Acts as specified in the corresponding entry under column (3) of the said Schedule shall, in the International Financial Services Centres, be exercised by the Authority in so far as it relates to the regulation of the financial product .....

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..... nition or registration or furnishing of information or reports; (b) the procedure of inspection, investigation or prosecution of offences, settlement of civil and administrative proceedings, compounding or adjudication of any offence or penalty, or actions to be taken in furtherance of such inspection, investigation, or adjudication or filing of appeals arising therefrom; (c) the determinati .....

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..... of the order imposing the penalty or fine, as the case may be. (6) All sums realised by way of penalties or fines under this Act shall be credited to the Consolidated Fund of India in Indian rupees. (7) The Authority may, in addition to the above, specify by regulations the manner in which the functions may be performed by the Authority for carrying out the provisions of this section. - .....

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