MCA amends Investor Education and Protection Fund Authority Rules

MCA amends Investor Education and Protection Fund Authority Rules

MCA amends Investor Education and Protection Fund Authority Rules :Sub-rule 13 of rule 6 ofthe Investor Education and Protection Fund (here after referred as IEPF) Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 has been amended by MCA. Currently

• Dividend on shares transferred to IEPF
• Proceeds realized on delisting of companies with respect to shares transferred to IEPF
• Proceeds realized on winding up of companies with respect to shares transferred to IEPF
• Any other amout realised by IEPF

is required to be transferred tospecified account of the IEPF Authority maintained in the Punjab National Bank. Now onwards the details of these amounts shall be furnished to the Authority in Form No. IEPF 7 within thirty days from the date of remittance or within thirty days from the date of enforcement of these Rules [i.e. 22nd May 2018.], as the case may be.

Form No. IEPF 7

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MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 22nd May, 2018

G.S.R. 472(E).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) Third Amendment Rules, 2017. (2) They shall come into force with effect from the 22nd May 2018. 2. In the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 in rule 6 in sub-rule (13), after the words maintained in the Punjab National Bank the following shall be inserted, namely:- and the details thereof shall be furnished to the Authority in Form No. IEPF 7 within thirty days from the date of remittance or within thirty days from the date of enforcement of these Rules, as the case may be.

[F. No. 05/17/2017-IEPF] GYANESHWAR KUMAR SINGH, Jt. Secy.

Note : The principal rules were published in the Gazette of India vide number GSR 854 (E), dated the 5th September, 2016 and amended vide notification number G.S.R 178(E) dated 28th 28, 2017 and G.S.R 1267 (E) dated 13th October, 2017.