MINISTRY OF FINANCE
(Department of Economic Affairs)
(FINANCIAL STABILITY DIVISION)
New Delhi, the 18th September, 2017
Subject: Amendment in the Gazette Notification of Financial Stability and Development Council (FSDC)- regarding
F. No. 18/14/2013-FSDC.—The Central Government hereby makes the following amendments in the notification of the Government of India, Ministry of Finance, Department of Economic Affairs, F.No. 14/33/2010- EM dated 30th December, 2010 as amended vide notifications of even number dated 6th August, 2013 and 5th December, 2013.
1. In the said notification;
i. In para 1, for the word “coodination”, the word “coordination” shall be substituted.
ii. For para 2(b)(iv) to para 2(b) (viii), the following shall be substituted namely—
2(b)(iv) “Secretary, Ministry of Corporate Affairs”
2(b)(v) “Chief Economic Adviser, Ministry of Finance”
2(b)(vi) “Chairman, Securities and Exchange Board of India (SEBI)”
2(b)(vii) “Chairman, Insurance Regulatory and Development Authority of India (IRDAI)”
2(b)(viii) “Chairman, Pension Fund Regulatory and Development Authority (PFRDA)”
2(b)(ix) “Chairman, Insolvency and Bankruptcy Board of India (IBBI)”
iii. For para 2(c), the following shall be substituted, namely “Adviser, Ministry of Finance, Department of Economic Affairs, in-charge-of Financial Stability Division, will be the Secretary of the Council”.
iv. In para 5, for the words “High Level Coordination Committee on Financial Markets (HLCCFM)”, the words “High Level Coordination Committee on Financial and Capital Markets” shall be substituted.
2. The Central Government hereby also declare that Notification No. F.No 18/14/2013-FSDC dated 5th December, 2013 cease to have effect from 28th September, 2015, as the date on which the provisions of Part I (excluding Section 132) and Part II of Chapter VIII of the Finance Act, 2015 (20 of 2015) came into force.
Dr. C.S. MOHAPATRA, Adviser (FS)
Foot Note : The principal Notification was published in the Gazette of India extraordinary vide F. No. 14/33/2010-EM dated 30th December, 2010 and following subsequent amendments were made on:
i. 6th August, 2013 vide F.No. 18/14/2013-FSDC
ii. 5th December 2013 vide F.No. 18/14/2013-FSDC
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