Section 50A. Powers of Authority not to apply to International Financial Services Centre

1[ 50A. Powers of Authority not to apply to International Financial Services Centre.— Notwithstanding anything contained in any other law for the time being in force, the powers exercisable by the Authority under this Act,— (a) shall not extend to an International Financial Services Centre set up under sub-section (1) of section 18 of the Special Economic Zones Act, 2005 (28 of 2005); (b) shall be exercisable by the International Financial Services Centres Authority established under sub-section (1) of section 4 of the International Financial Services Centres Authority Act, 2019, in so far as regulation of financial products, financial services and financial institutions that are permitted in the International Financial Services Centres are concerned.] 51.Power to make rules. —(1) The Central Government may, by notification, make rules for carrying out the provisions of this Act. (2) In particular and without prejudice to the generality of the foregoing power, such rules may provide for all or any of the following matters, namely:— (a) the salary and allowances payable to and the other conditions of service of the Chairperson and whole-time members under sub-section (3) of section 5; (b) the allowances payable to part-time members under sub-section (4) of section 5; (c) the additional functions which may be performed by the Authority under clause (p) of subsection (2) of section 14; (d) any other matter in respect of which the Authority may exercise the powers of a civil court under clause (v) of sub-section (3) of section 14; (e) the procedure to be followed by the authorised officer under sub-section (10) of section 17; (f) the form and manner in which an appeal may be filed before the Securities Appellate Tribunal and the fee which shall accompany such appeal, under sub-section (2) of section 36; (g) the procedure to be followed by the Securities Appellate Tribunal in dealing with an appeal, under sub-section (6) of section 36; 1. Ins. by Act 50 of 2019, s. 33 and the second Schedule (w.e.f. 1-10-2020). (h) the form in which annual statement of accounts shall be maintained by the Authority under sub-section (1) of section 42; (i) the time within which and the form and manner in which returns and reports are to be made by the Authority to the Central Government under sub-section (1) of section 46; (j) any other matter which is to be, or may be, prescribed, or in respect of which provision is to be made, by rules.