Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Amendment Rules, 2019- (Ministry of Corporate Affairs) (01 May 2019)

MANU/DCAF/0054/2019

Company

In exercise of the powers conferred by sub-sections (1), (2), (3), (4), (8), (9), (10) and (11) of section 125 and sub-section (6) of section 124, read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules, further to amend the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, namely:-

1. (1) These rules may be called the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Amendment Rules, 2019.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 (hereinafter referred to as the said rules), in rule 2, in sub-rule(1), in clause (d), for the words, brackets, letter and figures "and 'subsidiary bank' as defined in clause (k) of section 2 of State Bank of India (Subsidiary Bank) Act, 1959 (38 of 1959)", the words, figures, brackets and letter ", State Bank of India constituted under section 3 of the State Bank of India Act, 1955 (23 of 1955), ' subsidiary bank' as defined in clause (k) of section 2 of the State Bank of India (Subsidiary Bank) Act, 1959 (38 of 1959) and includes any other entity which is required to transfer any fund to Investor Education and Protection Fund in accordance with any Act or statute governing it" shall be substituted.

3. In the said rules, in rule 3, in sub-rule (2) in clause (g), after the words, figures, letter and brackets "section 10B of the Banking Companies (Acquisition and Transfer of Undertaking) Act, 1980", the words, figures, letter, and brackets ", sub-section (3) of section 38A of the State Bank of India Act, 1955" shall be inserted.

Tags : RULES AMENDMENT INVESTOR EDUCATION