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Senior Citizens’ Welfare Fund Rules, 2016

Allied Laws - F. No. 13/20/2014-NS. II - G.S.R. 322(E) - Dated:- 18-3-2016 - MINISTRY OF FINANCE (Department of Economic Affairs) NOTIFICATION New Delhi, the 18th March, 2016 G.S.R. 322(E).-In exercise of the powers conferred by section 128 of the Finance Act, 2015, 20 of 2015 the Government hereby makes the following rules, namely:- 1. Short title, extent and commencement.- (1) These rules may be called Senior Citizens Welfare Fund Rules, 2016. (2) They shall come into force from the date of th .....

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are of the Senior Citizens and for such other purposes as specified in Chapter VII of the Act. (2) The Senior Citizens Welfare Fund shall be an interest bearing account in the Public Account of the Union of India and shall be administered by the Committee. (3) Every institution shall transfer the unclaimed amounts, including those under the following schemes, to the Fund namely:- (a) Small savings and other savings schemes of the Central Government including the Post Office Savings Accounts, Pos .....

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neous Provisions Act, 1952. (4) Every Institution shall prepare list of unclaimed amounts lying as unclaimed deposits in the accounts and notify to the public in the manner provided under rule 7. (5) All unclaimed amounts, referred to in sub-rule (2), shall be transferred by the institution to the Fund within one year from the date of notification of these rules in the Official Gazette: Provided that the period so specified may be extended by such further period or periods, as the Central Govern .....

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o the Fund. 4. Administration of Fund.- (1) The nodal Ministry for the administration of the Fund shall be the Ministry of Social Justice and Empowerment. (2) The Fund shall have its secretariat located in the Ministry of Social Justice and Empowerment. (3) The Fund shall be administered by a Committee consisting of- (a) The Secretary in the Ministry of Social Justice and Empowerment who shall be the ex-officio Chairperson; (b) An official not below the rank of a Deputy Secretary to the Governme .....

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of Housing and Urban Poverty Alleviation - Member; (f) An official not below the rank of a Deputy Secretary to the Government of India, to be nominated by the Ministry of Labour and Employment-Member; (g) Officials not below the rank of a Deputy Secretary to the Government of India, to be nominated by the Ministry sponsoring the proposal and by other Ministries concerned with the specific proposal; (h) Financial Adviser, Ministry of Social Justice and Empowerment; (i) An official, not below the .....

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ed that the allocations shall be made by the Ministry of Finance, keeping in view the estimated and absorptive capacity for the authorised purpose and to ensure the perpetuity of the Fund. (7) The Committee may regulate its rules of business, in addition to, and without prejudice to anything provided under these rules, for the conduct of its business. 5. Rate of interest.- The eligible rate of interest for the money lying in the Fund shall be determined and notified by the Central Government in .....

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ving instruments and employment in income generating activities; (b) schemes for promoting healthcare and nutrition of senior citizens, including but not limited to, affordable health care programs, mental health services, health insurance schemes, nutrition education programs and training and orientation in health care of senior citizens; (c) schemes for promoting welfare of elderly widows; (d) schemes related to old age homes, short stay homes and day care of senior citizens; (e) schemes relat .....

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ly shall be funded from the proceeds of the Fund. (4) The Committee may issue detailed guidelines for the implementation of any scheme for the welfare of the Senior Citizens under these rules. 7. Publication of Information.- (1) Each institution shall, before crediting the unclaimed amount to the Fund, publish the information relating to accounts in which unclaimed deposits are lying, in the manner provided under this rule. (2) The Institution shall identify the unclaimed amounts and prepare a l .....

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