International Financial Services Centres Authority Act

Opening preview

INTERNATIONAL FINANCIAL SERVICES CENTRES AUTHORITY ACT, 2019 [Act No. 50 of 2019] [19th December, 2019] PREAMBLE 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. Be it enacted by Parliament in the Seventieth Year of the Republic of India as follows:-- (1) This Act may be called the International Financial Services Centres Authority Act, 2019. (2) It shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint; and different dates may be appointed for different provisions of this Act, and any reference in any provision to the commencement of this Act shall be construed as a reference to the coming into force of that provision. This Act shall apply to the International Financial Services Centres set up under Section 18 of the Special Economic Zones Act, 2005 (28 of 2005). (1) In this Act, unless the context otherwise requires,-- (a) "appropriate regulator" means any financial sector regulator specified in the First Schedule to this Act; (b) "Authority" mean