The International Financial Services Centres Authority (IFSCA) has issued the International Financial Services Centres Authority (Procedure for Authority Meetings) Regulations, 2020. These regulations, effective from their publication date, outline the procedures for convening and conducting meetings of the Authority. They cover aspects such as notice periods, quorum, presiding officers, and the recording of minutes, ensuring efficient governance and decision-making processes.
The International Financial Services Centres Authority has released theInternational Financial Services Centres Authority (Procedure for Authority Meetings) Regulations, 2020. Read all the amendments made below:
MINISTRY OF FINANCE
(Department of Economic Affairs)
(INTERNATIONAL FINANCIAL SERVI
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FAQ :
These regulations came into force on the date of their publication in the Official Gazette.
Meetings of the Authority shall be convened at least once in each quarter of the year.
Four members of the Authority shall constitute the quorum for the transaction of business at a meeting.
Ordinarily, at least seven working days' notice shall be given for each meeting, along with agenda papers.
Yes, if a physical meeting is not possible, meetings may be held through video conferencing or other audio-visual means.
A member who is directly or indirectly concerned or interested in a matter must disclose their interest at the meeting and shall not participate in any deliberation or decision on that matter.