(1) There shall be constituted a Fund to be called the International Financial Services Centres Authority Fund and there shall be credited thereto--
(a) all grants, fees and charges received by the Authority under this Act; and
(b) all sums received by the Authority from the sources as may be decided upon by the Central Government.
(2) The Fund shall be applied for meeting--
(a) the salaries, allowances and other remuneration of Members, officers and other employees of the Authority; and
(b) other expenses incurred by the Authority in connection with the discharge of its functions and for the purposes of this Act.
(a) all grants, fees and charges received by the Authority under this Act; and
(b) all sums received by the Authority from the sources as may be decided upon by the Central Government.
(2) The Fund shall be applied for meeting--
(a) the salaries, allowances and other remuneration of Members, officers and other employees of the Authority; and
(b) other expenses incurred by the Authority in connection with the discharge of its functions and for the purposes of this Act.
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More sections of this act
Section 1 · Short title and commencement.Section 2 · Application.Section 3 · Definitions.Section 4 · Establishment and incorporation of Authority.Section 5 · Composition of Authority.Section 6 · Terms of office and conditions of service of Chairperson and other Members.Section 7 · Removal of Member from office.Section 8 · Meetings of Authority.India Code, Government of India. Text fetched 24 Oct 2026. Check the linked official text and subsequent notifications when applying a provision.