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Question

The International Financial Services Centres Authority Fund shall be applied for _____________

A Meeting the salaries, allowances and other remuneration of Members, officers and other employees of the Authority Correct Answer Incorrect Answer
B Meeting other expenses incurred by the Authority in connection with the discharge of its functions and for the purposes of the IFSCA Act Correct Answer Incorrect Answer
C Meeting the needs of such other purposes as the Central Government may notify on this behalf from time to time Correct Answer Incorrect Answer
D Both a & b Correct Answer Incorrect Answer
E All a b & c Correct Answer Incorrect Answer

Solution

Section 15 Fund of Authority: (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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