Rule 2 Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016

(1) In these rules, unless the contexxt otherwise requires,—

(a) “Act” means the Companies Act 2013;

(b) “Authority” means the Investor Education and Protection Fund Authority constituted under subsection (5) of section 125 of the Act;

(c) “Chairperson” means the chairperson of the authority appointed under sub-section (6) of section 125 of the Act;

¹[(d) “Company” means a company defined in sub-section (20) of section 2 of the Act and includes ‘corresponding new bank’ as defined in sub-section (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) ²[,State Bank of India constituted under section 3 of the State Bank of India Act, 1955 (23 of 1955), subsidiary bank’ as defined in clause (k) of section 2 of the State Bank of India (Subsidiary Bank) Act, 1959 (38 of 1959) and includes any other entity which is required to transfer any fund to investor Education and Protection Fund in accordance with any Act or statute governing it] ³[and any transferee company in respect of the assets and liabilities of transferor company];

(da) “Corporate action” means any action taken by the company relating to transfer of shares and all the benefits accruing on such shares ⁴[including], bonus shares, split, consolidation, fraction shares etc., except right issue to the Authority;]

(e) “Existing IEPF” means the Investor Education and Protection Fund (IEPF) constituted under section 205C of the Companies Act, 1956 (1 of 1956);

(f) “Fund” means the Investor Education and Protection Fund (IEPF) constituted under section 125 of the Act;

⁵[(g)“Investor” means any person, who has committed money in shares, or debentures, bond or deposits under a scheme or plan of a company registered under the Act];

(h) “Member” means member of the Authority appointed under sub-section (6) of section 125 of the Act; and

(i) “Section” means the section of the Act.

(2) Words and expressions used in these rules and not defined herein but defined in the Act or in the Companies (Specification of Definitions Details) Rules, 2014, shall have the same meanings respectively assigned to them in the Act or in the said rules.

Amendment

^1.Substituted by theInvestor Education and Protection Fund Authority (Accounting. Audit. Transfer and Refund) Amendment Rules. 2017 Dated 28th February. 2017.

In rule 2, in sub-rule (1), for sub-rule (d),

“(d) “Company” means company as defined in sub-section (20) of section 2 of the Act and includes ‘corresponding new bank’ as defined in sub-section (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);”

The following shall be substituted, namely:

“(d) “Company” means a company defined in sub-section (20) of section 2 of the Act and includes ‘corresponding new bank’ as defined in sub-section (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) and ‘subsidiary bank’ as defined in clause (k) of section 2 of State Bank of India (Subsidiary Bank) Act, 1959 (38 of 1959);

(da) “Corporate action” means any action taken by the company relating to transfer of shares and all the benefits accruing on such shares namely, bonus shares, split, consolidation, fraction shares etc., except right issue to the Authority;”

^2.Substituted by The Investor Education and ProtectionFund Authority (Accounting, Audit, Transfer and Refund) Amendment Rules, 2019. Dated 01st May 2019 Effective from 05th September 2016

in sub-rule(1), in clause (d), for the words, brackets, letter and figures

and ‘subsidiary bank’ as defined in clause (k) of section 2 of State Bank of India (Subsidiary Bank) Act, 1959 (38 of 1959)

the following words, brackets, letter and figures shall be substituted namely,

,State Bank of India constituted under section 3 of the State Bank of India Act, 1955 (23 of 1955), ‘ subsidiary bank’ as defined in clause (k) of section 2 of the State Bank of India (Subsidiary Bank) Act, 1959 (38 of 1959) and includes any other entity which is required to transfer any fund to Investor Education and Protection Fund in accordance with any Act or statute governing it;

^3.Inserted bvThe Investor Education and Protection FundAuthoritv (Accounting, Audit, Transfer and Refund)Second Amendment Rules, 2019 Dated 14th August, 2019 Effective from 20th August 2019

^4. Substituted bvThe Investor Education and Protection FundAuthoritv (Accounting, Audit, Transfer and Re1und)Second Amendment Rules, 2019 Dated 14th August, 2019 Effecti ve from 20th August 2019

in sub-rule (1), in clause (da), for the word

namely,

the following words shall be substituted namely,

including.

^5. Omitted bvThe Investor Education and Protection FundAuthoritv (Accounting, Audit, Transfer and Retunď)Second Amendment Rules, 2019 Dated 14th August, 2019 Effective from 20th August 2019