PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
NOTIFICATION
New Delhi, the 29th July, 2020

PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY (NATIONAL PENSION SYSTEM TRUST) (SECOND AMENDMENT) REGULATIONS, 2020

No. PFRDA/12/RGL/139/5.—In exercise of the powers conferred by sub-section (1) of section 52 read with clause (v) and clause (w) of sub-section (2) of Section 52 of the Pension Fund Regulatory and Development Authority Act, 2013 (23 of 2013), the Pension Fund Regulatory and Development Authority hereby makes the following regulations to amend the Pension Fund Regulatory and Development Authority (National Pension System Trust) Regulations, 2015 namely:

1. These regulations may be called the Pension Fund Regulatory and Development Authority (National Pension System Trust) (Second Amendment) Regulations, 2020.

2. These shall come into force on the date of their publication in the Official Gazette.

3. In the Pension Fund Regulatory and Development Authority (National Pension System Trust) Regulations, 2015:- (I) The sub-regulation (4) of regulation 5 shall be substituted as follows:

No person who is appointed as a trustee of the Board of Trustees of the National Pension System Trust shall be eligible to be appointed as a trustee of any other pension trust, or as a director of any of the intermediaries registered with the Authority or its sponsor:

Provided that this restriction shall not be applicable to the Trustees appointed by Government of India or those appointed by any of the State Governments.

Explanation: For the purposes of this sub-regulation ‘director’ shall include ‘independent director’ also.

SUPRATIM BANDYOPADHYAY, Chairperson
[ADVT.-III/4/Exty./1 53/2020-21]

Footnote:

1. The principal regulations, Pension Fund Regulatory and Development Authority (National Pension System Trust) Regulations, 2015 was published in the Gazette of India, Part III Section 4 on March 12, 2015 vide notification No. PFRDA/12/RGL/139/5.

2. The principal regulations, Pension Fund Regulatory and Development Authority (National Pension System Trust) (First Amendment) Regulations, 2019 was published in the Gazette of India, Part III Section 4 on July 29, 2019 vide notification No. PFRDA/12/RGL/139/5.

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