Fund (1) The Authority shall administer the Fund. (2) There shall be credited to the Fund, the following amounts, namely:- (a) all amounts payable as mentioned in clause (a) to (n) of sub-section (2) of section 125 of the Act; (b) all shares in accordance with sub-section (6) of section 124 of the Act; (c) all the resultant benefits arising out of shares held by […]

Definitions (1) In these rules, unless the contexxt otherwise requires,— (a) “Act” means the Companies Act 2013; (b) “Authority” means the Investor Education and Protection Fund Authority constituted under subsection (5) of section 125 of the Act; (c) “Chairperson” means the chairperson of the authority appointed under sub-section (6) of section 125 of the Act; 1[(d) “Company” means a company defined in sub-section (20) of section 2 of the Act and includes

Short title, extent and commencement (1) These rules may be called the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016. (2) They shall come into force with effect from the 7th September 2016. Practice area’s of B K Goyal & Co LLP Income Tax Return Filing | Income Tax Appeal

Protection of Action Taken in Good Faith No suit, prosecution or other legal proceedings shall lie against the Central Government or Authority or any officer of the Central Government or any member, officer or other employee of the Authority for anything, which is in good faith done or intended to be done under these rules. Schedule I S. No.

Vacancies, etc., Not to Invalidate Proceedings of Authority No act or proceeding of the Authority and its Committees shall be invalid merely by reason of- (a) any vacancy in, or any defect in the constitution of the Authority and its Committees; (b) any defect in the appointment of a person acting as a member of the Authority and its Committees; (c) any laches

Member Not to Participate in Meetings in Certain Cases A member, who has anypecuniary interest, direct or indirect in any matter that is brought up for consideration at a meeting of the Authority and its Committees, shall, as soon as possible after relevant circumstances have come to his knowledge, disclose the nature of his interest at such meeting

Meetings (1) The Authority and its Committees shall meet at such times and places as it may consider necessary. (2) The Authority and its Committees shall determine its own procedure for holding of meetings. (3) If the Authority or its Committees has to hold a meeting elsewhere than in New Delhi, the approval of the Chairperson of the Authority shall be obtained indicating the reasons

Functions of the Authority (1) Subject to the provision of the Act. the Authority shall have the duty to administer the Fund for Investor Education and Protection. (2) The general management of the affairs of the Authority shall vest in the Chief Executive Officer, who may exercise powers, which may be authorised by the Authority. (3) The Chief Executive Officer shall function under superintendence and

The Number of Officers and Employees of the Authority The Authority shall have such number of officers and other employees for rendering secretarial assistance and for its day to day functions as are set out in Schedule I to these rules.

The Term of Office of Members of the Authority (1) The members of the Authority appointed under clause (iii) of rule 7 shall hold office for a period of three years and shall be eligible for reappointment; Provided that no member shall hold office for more than three terms. Provided further that a member shall be eligible for reappointment after expiration of cooling off