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<h1>Establishment of regulatory authority by central notification; corporate status, property and office powers defined.</h1> Central notification establishes the International Financial Services Centres Authority as a body corporate with perpetual succession and a common seal, empowered to contract, acquire, hold and dispose of movable and immovable property, and to sue and be sued; the Central Government fixes the head office location and the Authority may, with prior Central Government approval, establish offices elsewhere in India or outside India.