Section 4
Establishment and incorporation of Authority.
The International Financial Services Centres Authority Act, 2019
About this Act
An Act to provide for the establishment of an Authority to develop and regulate the financial services market in the International Financial Services Centres in India and for matters connected therewith or incidental thereto.
(1) The Central Government shall, by
notification, for the purposes of this Act, establish an Authority by the name of the International
Financial Services Centres Authority.
(2) TheAuthority shall be a body corporate having perpetualsuccession and a common seal, and subject to the provisions of this Act, with power to enter into and execute contracts, acquire, hold and dispose of property, both movable and immovable, and shall, by the said name, sue and be sued.
(3) The head office of the Authority shall be at such place as the Central Government may, by notification,decide.
(4) The Authority may, with the prior approval of the Central Government, establish its offices at other places in India or outside India.
(2) TheAuthority shall be a body corporate having perpetualsuccession and a common seal, and subject to the provisions of this Act, with power to enter into and execute contracts, acquire, hold and dispose of property, both movable and immovable, and shall, by the said name, sue and be sued.
(3) The head office of the Authority shall be at such place as the Central Government may, by notification,decide.
(4) The Authority may, with the prior approval of the Central Government, establish its offices at other places in India or outside India.