Skip to content

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

Which item is credited to the International Financial Services Centres Authority Fund under the IFSCA Act, 2019?

The Fund is credited with all grants, fees and charges received by the Authority under the Act, along with sums from sources decided by the Central Government. Penalties and fines do not go to it; they are credited to the Consolidated Fund of India.

  1. AAll grants, fees and charges received by the Authority under the ActCorrect
  2. BPenalties and fines realised under the Act
  3. CDividends declared by companies listed in an IFSC
  4. DSums collected by SEBI from recognised stock exchanges

Explanation

Section 15(1) credits to the Fund all grants, fees and charges received by the Authority under the Act, and sums from sources decided by the Central Government. Penalties and fines go to the Consolidated Fund of India under Section 13(6), so that option is wrong.

Did you get it right without looking?

One question tells you little. A timed set on International Financial Services Centres Authority (IFSCA) shows your real accuracy, how long you take and where you lose marks.

Practise International Financial Services Centres Authority (IFSCA)Free diagnostic mock

More International Financial Services Centres Authority (IFSCA) questions