June 09, 2021 Compliance Connect
AMENDMENT IN INVESTOR EDUCATION AND PROTECTION FUND AUTHORITY (ACCOUNTING, AUDIT, TRANSFER AND REFUND) RULES, 2016 (June 09, 2021) New clause (fa) has been inserted in the list of amounts to be credited to the IEPF Fund, post amendment; the following is also required to be credited to IEPF Fund: “all shares held by the Authority in accordance with proviso of sub-section (9) of section 90 of the Act and all the resultant benefits arising out of such shares, without any restrictions;" A new rule, Rule 6A “Manner of transfer of shares under sub-section (9) of section 90 of the Act to the Fund" has been inserted. The shares shall be credited to DEMAT Account of the Authority to be opened by the Authority for the said purpose, within a period of 30 days of such shares becoming due to be transferred to the Fund. The procedure for transferring the electronic and physical shares to the fund has been laid down in the said rules.