TMI BlogInvestor Education and Protection Fund (awareness and protection of investors) Rules, 2001.X X X X Extracts X X X X X X X X Extracts X X X X ..... Act, 1956; (b) Fund means the Investor Education and Protection Fund (IEPF) established under sub-section (1) of section 205C of the Act, 1956 (1 of 1956); (c) Ministry or Department means Ministry or Department of the Central Government dealing the Company Affairs; (d) Committee / Sub-Committee means the Committee specified by Central Government under sub-section (4) of section 205C of the Act to administer the Fund. (e) Form means forms prescribed by these rules; (f) Words and expressions used in these rules and not defined herein but defined in the Act shall have the meaning respectively assigned to them in the Act. 3. Credits to the Fund (i) Any amount required to be credited by the companies to the Fund, as provided in the Act shall be remitted into the concerned specified branches of Punjab National Bank, within a period of thirty days of such amounts becoming due to be credited to the Fund and the amount so credited shall be accounted for as provided in Rule 4 below : (ii) (a) The amount shall be tendered by the companies on behalf of the Central Government in such branches of Punjab National Bank along with Chal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... st on unpaid application money received by Companies for allotment of securities and due for refund. (iii) Interest on unpaid matured deposits. (iv) Interest on unpaid matured debentures. Note : (a) to (d) shall be sub-heads (i) to (iv) shall be detailed heads. (i) (B) Grants and donations given to the Fund by the State Governments, Companies or any other Institutions will be credited under a separate Sub-Head under the Minor Head 800 - Other Receipts below the Major Head 0075 Miscellaneous General Services . (ii) All expenditure for the purposes of carrying out the objects for which the Fund has been established shall be incurred under the functional head expenditure head of Department of Company Affairs and equivalent amount will be shown as deduct entry by transfer of amount from the fund. (iii) Surplus amount, if any, from the fund accounts shall not, for the present, be utilised for investment purpose. 5. Expenses of the Committee (a) The official member of the committee or sub-committee shall be entitled to Travelling Allowance according to the rules regulating their official position. (b) For Journeys performed by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t and speedy discharge of its functions. (ii) Sub-committee shall be constituted from amongst the members. (iii) The Chairperson of the Committee may nominate any one of the members of the sub-committee as its convenor and where no such nomination has been made the members of the sub-committee elect a convenor amongst themselves. (iv) The Committee may have sub-committee to examine the end use of grants and assistance and recommend release of funds. 8. Power to call upon a Company (i) The Committee shall have suo motu powers to call upon any company to pay the amount due to the Fund. (ii) Committee shall call upon any company to give estimates of the amounts to be credited to the Fund in Form 2. Report by the Committee 9. The Committee shall furnish its activity report for every six month s period to the Central Government. 10. Meetings (i) One-third of the total members subject to five members in the case of meeting of committee and three members in case of sub- committee meeting shall constitute a quorum. (ii) The Chairperson of the Committee and the convenor of a sub-committee, respectively, shall pres ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... te. Minutes 13. The minutes of the meeting of the Committee or sub-committee shall be caused to be recorded and circulated among the members. 14. Conditions for Utilization of Funds by the Committee (i) The Committee may register from time to time various Associations or institutions or organisations, engaged in activities relating to investor awareness, education and protection and proposing for Investors programmes; organising seminar, symposia and undertake projects for Investor Protection including research activities. (ii) Application for registration by such organisations referred to in sub-rule (i) be made in Form 3. (iii) Application for release of funds for the activities listed in Rule 7(1) from the organizations or Institutes registered with the Department of Company Affairs shall be made in Form 4. (iv) A copy of the summary or recommendations of the seminar or programme conducted and copy of accounts for such activity by such organisation, e.g., registered associations or chambers of commerce or institutes shall be provided to the Committee within ten days of the conclusion of the seminar or programme. (v) The Organisations or Associa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pany Registration No. Authorised Capital Statement of Amounts failing due for crediting to Investor Education and Protection Fund set up Under section 205C(2). During the year..... 1. Name of the Company. 2. Registered Office 3. Financial year 4. Total amount due as on 31st March of the relevant financial year 5. Details of amount credited to Investor Education and Protection Fund during the year 6. Details of amounts State the details of amounts remaining unclaimed for six years since becoming due for payment for the following a. Unpaid dividend b. Unclaimed share application money c. Unclaimed matured deposits d. Unclaimed matured debentures e. Interest in respect of (a) to (d) 7. Relevant financial year in which amount is due for payment or redemption Signature of Person presenting the return: Date and Place Certificate from auditors Verified and found correct. Place Chartered Accountant/Cost Accountant/Company Date Secretary/Statutory Auditor Form No. 3 [See Rule 14] Application for registration ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the number of meetings held during the last three years and the participation to be given). (e) Number of shareholders/conferences/seminars held during the last three years (f) Whether representatives of the Association are sent to attend shareholders meeting of companies (g) Whether the association handles investors grievances ? (if yes, then number of grievances received and settled during the last 12 months to be given). (h) Grievances redress system of the Association (i) House Journal/publication of the Association (j) Whether any representation has been made by the Association in the past to the Stock Exchanges/Government/Companies in the interests of the investors in general and the members in particular. (k) Any other activity (l) Whether any suits/proceedings are pending against the association or any of its office bearers/members in any court of law, if so details may be given. (m) Whether the association agrees to abide by the rules/regulations/guidelines framed by Committee/Central Government from time to time for its effective functioning and better discipline. (n) Whether any office bearer of the Association is a boa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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