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

The Central Government wishes to fill the seats on the IFSCA that are not held by the Chairperson, the regulator nominees or the Finance Ministry officials. How are these remaining Members appointed?

Two other Members are appointed by the Central Government on the recommendation of a Selection Committee. The Selection Committee is constituted by the Central Government in the manner prescribed. They are not elected by intermediaries or nominated by a state government or SEBI.

  1. ATwo Members are appointed by the Central Government on the recommendation of a Selection CommitteeCorrect
  2. BTwo Members are elected by the market intermediaries operating in the IFSC
  3. CThree Members are nominated by the Gujarat Government
  4. DOne Member is nominated by the Chairperson of SEBI

Explanation

Section 5(1)(d) provides for two other Members appointed by the Central Government on the recommendation of a Selection Committee. The Selection Committee is constituted by the Central Government in the prescribed manner.

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