Act Number: 38

Act Name: The Government Securities Act, 2006

Year: 2006

Enactment Date: 2006-08-30

Long Title: An Act to consolidate and amend the law relating to Government securities and its management by the Reserve Bank of India and for matters connected therewith or incidental thereto.

Ministry: Ministry of Finance

Department: Department of Economic Affairs

Section 31A: Powers of Bank not to apply to International Financial Services Centre.
    1[31A. Powers of Bank 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 Bank 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 Centre 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.]
Notes:
1. Ins. by Act 50 of 2019, s. 33 and the second Schedule (w.e.f. 1-10-2020).
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