Skip to content

CS Professional · IFSCA - Regulations, Listing and Compliances · IFSCA Ecosystem and Regulatory Framework

The Central Government wants to appoint a part-time Member to the IFSCA. Mr. Rao, a retired law professor, is proposed. Under Section 5, which statement is correct?

Only the two Members appointed on the Selection Committee's recommendation under clause (d) can be whole-time or part-time, as the Central Government deems fit. The Chairperson must always be a whole-time Member under Section 5(2).

  1. AThe Chairperson may be appointed part-time if the Government deems fit
  2. BA Member appointed on the Selection Committee's recommendation under clause (d) may be whole-time or part-timeCorrect
  3. CAny of the ex officio regulator nominees must be whole-time
  4. DAll Members other than the Chairperson must be part-time

Explanation

Section 5(2) makes the Chairperson a whole-time Member, while the two Members under clause (d) may be whole-time or part-time as the Government deems fit. So a part-time appointment is possible only for clause (d) Members, not the Chairperson.

Did you get it right without looking?

One question tells you little. A timed set on IFSCA Ecosystem and Regulatory Framework shows your real accuracy, how long you take and where you lose marks.

Practise IFSCA Ecosystem and Regulatory FrameworkFree diagnostic mock

More IFSCA Ecosystem and Regulatory Framework questions