πŸ“’ Too many exams? Don’t know which one suits you best? Book Your Free Expert πŸ‘‰ call Now!

  • google app store apple app store
  • βœ–

      Question

      According to the IFSCA Act all sums realised by way of

      penalties or fines under the IFSCA Act shall be credited to ___________
      A A special account for legal expenses Correct Answer Incorrect Answer
      B To the account of the affected parties Correct Answer Incorrect Answer
      C The Consolidated Fund of India in Indian rupees Correct Answer Incorrect Answer
      D A separate fund managed by the regulatory authority Correct Answer Incorrect Answer
      E The Account of the government agency responsible for enforcing the Act Correct Answer Incorrect Answer

      Solution

      Section 13. Powers of Authority in relation to financial products, financial services and financial institutions.β€” (6) All sums realised by way of penalties or fines under this Act shall be credited to the Consolidated Fund of India in Indian rupees.

      Practice Next
      ask-question