Rule 14 - Conditions for Utilization of Funds by the Committee - Investor Education and Protection Fund (Awareness and Protection of Investors) Rules, 2001

Conditions for Utilization of Funds by the Committee ____ 14. (i) The Committee may register from time to time various Associations or institutions or organisations, engaged in activities relating to investor awareness, education and protection and proposing for Investors programmes; organising seminar, symposia and undertake projects for Investor Protection including research activities. (ii) Application for registration by such organisations referred to in sub-rule (i) be made in Form 3. (iii) Application for release of funds for the activities listed in rule 7(1) from the organizations or Institutes registered with the Department of Company Affairs shall be made in Form 4. (iv) A copy of the summary or recommendations of the seminar or programme conducted and copy of Accounts for such activity by such organisation e.g. registered associations or chambers of commerce or institutes shall be provided to the Committee within ten days of the conclusion of the seminar of programme. (v) The organisation or Associations registered shall be considered for grant of funds as a grant-in-aid either as one time measure or in stages or by way of reimbursement depending upon the nature of the activity proposed. (vi) The Committee shall be entitled to examine the end use of grants and assistance before recommending release of funds. (vii) The Committee shall cause to draw at the end of each Financial Year, a statement of Total Receipts from various sources indicated in section 205C of the Companies Act 1956 and the grants disbursed or the expenditure incurred in connection with the activities organised by the Committee or Sub Committee and other expenditure incurred for holding the meetings. (viii) The Committee shall maintain the necessary records showing amount disbursed, date of disbursal, the name of Organisation or Voluntary agency, the activities of the agency for which such disbursal was made.