Advocate OS
Start free

In force

The International Financial Services Centres Authority Act, 2019

35 sections · As amended up to 2026-08

Sections

  1. 0Section 0
  2. I — PRELIMINARY
  3. 1Short title and commencement
  4. 2Application
  5. 3Definitions
  6. II — ESTABLISHMENT OF AUTHORITY
  7. 4Establishment and incorporation of Authority
  8. 5Composition of Authority
  9. 6Terms of office and conditions of service of Chairperson and other Members
  10. 7Removal of Member from office
  11. 8Meetings of Authority
  12. 9Vacancies etc., not to invalidate proceedings of Authority
  13. 10Administrative powers of Chairperson
  14. 11Offices and other employees of Authority
  15. III — POWERS AND FUNCTIONS OF AUTHORITY
  16. 12Functions of Authority
  17. 13Powers of Authority in relation to financial products, financial services and financial institutions
  18. IV — FINANCE, ACCOUNTS AND AUDIT
  19. 14Grants by Central Government
  20. 15Fund of Authority
  21. 16Accounts and audit
  22. 17Performance Review Committee
  23. 18Maintenance of website
  24. 19Returns and reports
  25. V — FOREIGN EXCHANGE TRANSACTIONS
  26. 20Transactions in foreign currency
  27. VI — MISCELLANEOUS
  28. 21Power to issue directions
  29. 22Power of Central Government to supersede Authority
  30. 23Delegation of powers
  31. 24Members, officers and employees of the Authority to be public servants
  32. 25Protection of action taken in good faith
  33. 26Exemption from tax
  34. 27Power to make rules
  35. 28Power to make regulations
  36. 29Rules and regulations to be laid before Parliament
  37. 30Overriding effect
  38. 31Power to modify provisions of other enactments in relation to International Financial Services Centres
  39. 32Power to remove difficulties
  40. 33Amendment to certain enactments
  41. 34Savings