Para 6 - Criteria for approval - Electoral Trusts Scheme, 2013

1 [Criteria for approval 6. An electoral trust shall be considered for approval if it fulfils all of the following conditions, namely: (a) the company registered for the purposes of section 25 of the Companies Act, 1956 (1 of 1956) , which satisfies the conditions referred to in paragraph 4 of this Scheme; (b) the object of the electoral trust shall not be to earn any profit or pass any direct or indirect benefit to its members or contributors, or to any person referred to in sub-section (3) of section 13 of the Act, or any person referred to in sub-rule (10) of rule 17CA of the Rules ; (c) it has made adequate arrangement for recording the receipts from the contributors in accordance with rule 17CA ; and (d) the stipulations contained in sub-rules (2) to (15) of rule 17CA of the Rules for the functioning of an electoral trust are specifically included in the articles of association of the company registered for the purposes of section 25 of the Companies Act, 1956 (1 of 1956). ] --------------------- Notes:- 1. Inserted vide Notification No. 9/2013 Dated 31-1-2013