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        Indian Laws

        Section 12 - Functions of Authority

        International Financial Services Centres Authority Act, 2019
        Chapter III
        POWERS AND FUNCTIONS OF AUTHORITY

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        Regulation of financial products empowers the Authority to govern IFSC services, institutions and recommend permitted activities. The Authority has a statutory duty to develop and regulate financial products, financial services and financial institutions in International Financial Services Centres and may take measures it deems fit. Its powers include regulating pre-existing permissions granted by any regulator, regulating products or institutions notified by the Central Government, recommending additional products or services to the Central Government for permission in a Centre, and performing other functions as prescribed.
                      Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                        Provisions expressly mentioned in the judgment/order text.

                            Regulation of financial products empowers the Authority to govern IFSC services, institutions and recommend permitted activities.

                            The Authority has a statutory duty to develop and regulate financial products, financial services and financial institutions in International Financial Services Centres and may take measures it deems fit. Its powers include regulating pre-existing permissions granted by any regulator, regulating products or institutions notified by the Central Government, recommending additional products or services to the Central Government for permission in a Centre, and performing other functions as prescribed.


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