19 Jul MCA Notifies Investor Education and Protection Fund Authority (IEPF) Amendment Rules, 2024
The Ministry of Corporate Affairs (MCA), via Notification No. G.S.R. 414(E) dated July 16, 2024, has notified the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Amendment Rules, 2024.
In exercise of the powers conferred by sub-sections (1), (2), (3), (4), (8), (9), (10), and (11) of section 125 and sub-section (6) of section 124 read with section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following amendments to the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, namely:
- (1) These rules may be called the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Amendment Rules, 2024. (2) They shall come into force on the date of their publication in the Official Gazette.
- In the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 (hereinafter referred to as the said rules):
(a) For the letters and figures “IEPF-3”, wherever they occur, the letters and figures “IEPF-4” shall be substituted; (b) For the letters and figures “IEPF-7”, wherever they occur, the letters and figures “IEPF-1” shall be substituted.
- In rule 6 of the said rules:
(a) In sub-rule (13): (i) For the words “into the specified account of the IEPF Authority maintained in the Punjab National Bank”, the words “online to the Authority within a period of thirty days from the date such amount becomes due” shall be substituted; (ii) The words “within thirty days from the date of remittance or within thirty days from the date of enforcement of these Rules, as the case may be” shall be omitted.
(b) In sub-rule (13A): (i) For the words “into the specified account of the IEPF Authority maintained in the Punjab National Bank”, the words “online to the Authority within a period of thirty days from the date such amount becomes due” shall be substituted; (ii) The words “within thirty days from the date of remittance or within thirty days from the date of commencement of the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund), Third Amendment, Rules, 2021, as the case may be” shall be omitted.
- In rule 6A, in sub-rule (12): (a) For the words “into the specified account of the IEPF Authority maintained in the Punjab National Bank”, the words “online to the Authority” shall be substituted; (b) For the words “from the date of remittance”, the words “of such amount becoming due to be credited to the Fund” shall be substituted.
- The forms IEPF-1, IEPF-1A, and IEPF-2 in the said rules shall be substituted with the new forms provided.
The notification along with the new forms can be accessed here.
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