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G.S.R. (E)-- In exercise of the powers conferred by sub-section (I) of section 642 read with subsection (3) of section 205C of the Companies Act, 1956 (I of 1956), the Central Government hereby makes the following rules to amend the Investor Education and Protection Fund (Uploading of information regarding unpaid and unclaimed amounts lying with companies) Rules, 2012, namely:-
1. (1) These rules may be calledthe Investor Education and Protection Fund (Uploading of information regarding unpaid and unclaimed amounts lying with companies) Amendment Rules, 2014.
(2) They shall come intoforce with effect from the 31 51 March, 2014.
2. In rule 2 of Investor Education and Protection Fund (Uploading of information regarding unpaid and unclaimed amounts lying with companies) Rules, 2012 (hereinafter referred to as the saidrules), after clause (a), the following clause shall be inserted, namely:-
'(aa) "corresponding new bank" means the correspondingnew bank as defined in clause (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);'
3. In rule 3 of the said rules, after the words, figures and letter, "section 205C of the Act", the following words, figures, letter and brackets shall be inserted namely:-
"and corresponding new bank shall with in a period of90 daysfrom the date of holding their Annual
General Meeting every year, identify the money transferred to theUnpaid Dividend Account in
pursuance of section I OB of the Banking Companies (Acquisitionand Transfer of Undertakings)
Act, 1970 and section I OB of Banking Companies (Acquisition andTransfer of Undertakings) Act,
1980, which remains unpaid or unclaimed for a period of sevenyears from the date of such transfer"
4. In Form 5INV annexed to said rule, for the word "company", wherever it occurs, the words "company and corresponding new bank" shall be substituted.
Note: The principal notification waspublished vide number GSR 352 (E), dated the 10 th May, 2012.
IEPF Uploading information of Unpaid Unclaimed Dividend Rules 2014. MCA Notification
