Investor Education and Protection Fund (Uploading of information regarding unpaid and unclaimed amounts lying with companies) Amendment Rules, 2014
GOVERNMENT OF INDIA
Ministry of Corporate Affairs
Notification
New Delhi the 27 March, 2014
G.S.R. 217(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.
F.No 5/29/2013-IEPF
(Amardeep Singh Bhatia)
Joint Secretary
Note: The principal notification was published vide number GSR 352 (E), dated the 10th May, 2012.
