Act Number: 50

Act Name: The International Financial Services Centres Authority Act, 2019

Year: 2019

Enactment Date: 2019-12-19

Long Title: 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.

Ministry: Ministry of Finance

Department: Department of Economic Affairs

Section 21: Power to issue directions.
    (1) Without prejudice to the foregoing provisions of this Act, the Authority shall, in exercise of its powers or the performance of its functions under this Act, be bound by such directions on questions of policy as the Central Government may give in writing to it from time to time:
     Provided that the Authority shall, as far as practicable, be given an opportunity to express its views before any direction is given under this sub-section.
     (2)The decision of the Central Government, whether a question is one of policy or not, shall be final.
    
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