Question
What is the maximum period for which the Central
Government may supersede the Authority under IFSCA Act?Solution
Power of Central Government ·        To supersede the Authority for a maximum period of 6 months , if the Central Government is of the opinion that - ü on account of circumstances beyond the control of the Authority, it is unable to discharge the functions or perform the duties imposed on it by or under this Act; ü the Authority has persistently defaulted in complying with any direction given by the Central Government and as a result of such default the financial position of the Authority or the administration of the Authority has deteriorated; or ü circumstances exist which render it necessary in the public interest so to do
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