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

For a stock exchange in an IFSC, IFSCA exercises the SEBI Act powers listed in the First Schedule. Which of the following matters is applied mutatis mutandis from the respective Act, as per the IFSCA Act, 2019?

The respective Acts' procedures for inspection, investigation, prosecution, settlement, compounding, adjudication and related appeals apply mutatis mutandis to IFSC financial products, services and institutions under section 13(4), so IFSCA follows them for its enforcement.

  1. AThe procedure of inspection, investigation or prosecution of offences, and compounding or adjudication of penaltiesCorrect
  2. BOnly the manner of constituting the Authority's governing body
  3. CThe determination of salaries of the Authority's officers
  4. DThe location of the Authority's head office

Explanation

Section 13(4)(b) applies the respective Acts' provisions on inspection, investigation, prosecution, settlement, compounding and adjudication, and appeals, mutatis mutandis to IFSC financial products, services and institutions. The other options concern the Authority's own constitution and administration, which are covered elsewhere in the Act.

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