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CS Executive · Capital Market and Securities Laws · International Financial Services Centres Authority (IFSCA)

Before the Central Government issues a notification under Section 31(1), a draft of it must be laid before Parliament. For how long must the draft be laid?

The draft must be laid before each House of Parliament for a total of thirty days, which may fall within one session or two or more successive sessions. This is the requirement in Section 31(2) of the IFSCA Act, 2019 before the notification can be issued.

  1. AFifteen days in a single session
  2. BThirty days in total, in one session or two or more successive sessionsCorrect
  3. CSixty days in total, in one session only
  4. DNinety days across three sessions

Explanation

Section 31(2) requires the draft to be laid before each House while in session for a total period of thirty days, which may be in one session or two or more successive sessions. The other periods do not appear in the section.

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