Section 31(1) in International Financial Services Centres Authority Act, 2019
(1)The Central Government may, by notification, direct that any of the provisions of any other Central Act or any rules or regulations made thereunder or any notification or order issued or direction given thereunder (other than the provisions relating to making of the rules or regulations) specified in the notification -(a)shall not apply to financial products, financial services or financial institutions, as the case may be, in an International Financial Services Centre; or(b)shall apply to financial products, financial services or financial institutions, as the case may be, in an International Financial Services Centre with such exceptions, modifications and adaptations, as may be specified in the notification.
