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CS Executive · Economic, Commercial and Intellectual Property Laws · Law relating to Consumer Protection

After a preliminary inquiry into a complaint against a mutual fund distributor, the Central Authority finds that the matter is better dealt with by a Regulator established under another law. What may the Central Authority do under the Act?

The Central Authority may refer the matter to the concerned Regulator established under the other law, along with its report. This applies where, after the preliminary inquiry, it forms the opinion that the Regulator should deal with the matter.

  1. ARefer the matter to the concerned Regulator along with its reportCorrect
  2. BClose the matter, as it has no power over regulated sectors
  3. CTransfer the matter to the Central Consumer Protection Council with its report
  4. DRefer the matter to the District Commission for a regulatory decision

Explanation

Section 19(2) provides that where, after preliminary inquiry, the Central Authority thinks the matter is to be dealt with by a Regulator under any other law, it may refer the matter to that Regulator along with its report. The Council is only an advisory body and is not the forum for such reference.

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