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CS Professional · Strategic Management and Corporate Finance · An Overview on Listing and Issuance of Securities in International Financial Services Centre

Under the International Financial Services Centres Authority Act, 2019, an International Financial Services Centre (IFSC) is defined as a centre set up under which of the following?

An IFSC is defined in the IFSCA Act, 2019 as a centre set up, before or after the Act commenced, under section 18 of the Special Economic Zones Act, 2005. It is not set up under the Companies Act, FEMA or the SEBI Act.

  1. ASection 18 of the Special Economic Zones Act, 2005Correct
  2. BSection 18 of the Companies Act, 2013
  3. CThe Foreign Exchange Management Act, 1999, by the RBI
  4. DThe Securities and Exchange Board of India Act, 1992

Explanation

The Act defines an International Financial Services Centre as one set up, before or after the Act's commencement, under section 18 of the Special Economic Zones Act, 2005. The other enactments listed do not create IFSCs under this definition.

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