Section 7
Removal of Member from office.
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.
The Central Government may remove from office a Member,
who--
(a) is, or at any time has been, adjudged as insolvent; or
(b) has become physically or mentally incapable of acting as a Member; or
(c) has been convicted of an offence which in the opinion of the Central Government involves moral turpitude;or
(d) has acquired such financial or other interest as is likely to affect prejudicially his functions as a Member; or
(e) hasso abused his position so asto render his continuance in office detrimental to public interest:
Provided that no Member shall be removed from office under clause (d) or clause (e) unless he has been given a reasonable opportunity of being heard in the matter.
(a) is, or at any time has been, adjudged as insolvent; or
(b) has become physically or mentally incapable of acting as a Member; or
(c) has been convicted of an offence which in the opinion of the Central Government involves moral turpitude;or
(d) has acquired such financial or other interest as is likely to affect prejudicially his functions as a Member; or
(e) hasso abused his position so asto render his continuance in office detrimental to public interest:
Provided that no Member shall be removed from office under clause (d) or clause (e) unless he has been given a reasonable opportunity of being heard in the matter.