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      Question

      Which of the following is not a feature of the

      International Financial Services Centres Authority established under the IFSCA Act?
      A Body corporate Correct Answer Incorrect Answer
      B Perpetual succession Correct Answer Incorrect Answer
      C Can hold and dispose of only movable property Correct Answer Incorrect Answer
      D All a, b & c Correct Answer Incorrect Answer
      E Both a & b Correct Answer Incorrect Answer

      Solution

      IFSCA Act: Section 4 Establishment and incorporation of Authority: (2) The Authority shall be a body corporate having perpetual succession and a common seal, and subject to the provisions of this Act, with power to enter into and execute contracts, acquire, hold and dispose of property, both movable and immovable, and shall, by the said name, sue and be sued.

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