Notification,
F.No 5/29/2013-IEPF, dated 27th March, 2014
Investor Education and Protection Fund (Uploading of
information regarding unpaid and unclaimed amounts lying with companies)
Amendment Rules, 2014
G.S.R. (E) -- In exercise of the powers conferred by sub-section (1)
of section 642 read with sub-section (3) of section 205C of the Companies Act,
1956 (1 of 1956), the Central Government hereby makes the following rules to
amend the Investor Education and Protection Fund (Uploading of information
regarding unpaid and unclaimed amounts lying with companies) Rules, 2012,
namely:-
1. (1) These rules may be called the Investor Education and
Protection Fund (Uploading of information regarding unpaid and unclaimed
amounts lying with companies) Amendment Rules, 2014.
(2) They shall come into force with effect from the 31″ March,
2014.
2.
In rule 2 of Investor Education and Protection Fund (Uploading of information
regarding unpaid and unclaimed amounts lying with companies) Rules, 2012
(hereinafter referred to as the said rules), after clause (a), the following
clause shall be inserted, namely:-
‘(aa) “corresponding new bank” means the
corresponding new bank as defined in clause (d) of section 2 of the Banking
Companies (Acquisition and Transfer of Undertakings) Act, 1970 (5 of 1970) and
clause (b) of section 2 of the Banking Companies (Acquisition and Transfer of
Undertakings) Act, 1980 (40 of 1980);’
3.
In rule 3 of the said rules, after the words, figures and letter, “section 205C
of the Act”, the following words, figures, letter and brackets shall be
inserted namely:-
“and corresponding new bank shall with in a period of 90
days from the date of holding their Annual General Meeting every year, identify
the money transferred to the Unpaid Dividend Account in pursuance of section
10B of the Banking Companies (Acquisition and Transfer of Undertakings) Act,
1970 and section 10B of Banking Companies (Acquisition and Transfer of
Undertakings) Act, 1980, which remains unpaid or unclaimed for a period of
seven years from the date of such transfer”
4.
In Form 5INV annexed to said rule, for the word “company”, wherever it occurs,
the words “company and corresponding new bank” shall he substituted.
.
.
.
0 comments:
Post a Comment