Rule 3 - Fund - Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016

3. Fund .- (1) The Authority shall administer the Fund. (2) There shall be credited to the Fund, the following amounts. namely:- (a) all amounts payable as mentioned in clause (a) to (n) of sub-section (2) of section 125 of the Act ; (b) all shares in accordance with sub-section (6) of section 124 of the Act ; (c) all the resultant benefits arising out of shares held by the Authority under clause (b); (d) all grants, fees and charges received by the Authority under these rules; (e) all sums received by the Authority from such other sources as may be decided upon by the Central Government; (f) all income earned by the Authority in any year; 5 [ (fa) 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; ] 1 [ (g) all amounts payable as mentioned in sub-section (3) of section 10B of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, section 10B of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 2 [ , sub-section (3) of section 38A of the State Bank of India Act, 1955 ] and section 40A of the State Bank of India (Subsidiary Bank) Act, 1959; and ] (h) all Other sums of money collected by the Authority as envisaged in the Act. (3) In case of term deposits and debentures of companies, due unpaid or unclaimed interest shall be transferred to the Fund along with the transfer of the matured amount of such term deposits and debentures. (4) (a) All the money, which accrue under sub section (2) 3 [****] of section 125 of the Act shall be deposited in the Consolidated Fund of India under the Major Head 0075- Miscellaneous General Services - 104 - Unclaimed and Unpaid dividends, deposits and debentures etc.'. Such sums along with amount deposited under section 205C of the Companies Act, 1956 shall be transferred to the Fund in the non-interest bearing Public Account after taking due approval of Parliament through Appropriation Act. This non- interest bearing public Account Shall be termed as IEPF Fund and shall be utilised for the purposes provided under sub-section (3) of section 125 of the Act . (b) (i) All amounts remitted by the companies shall initially be accounted for under the following heads of Accounts:- Major Head 0075 - Miscellaneous General Services Minor Head 104 - Unpaid dividend Of Companies. (ii) Grants and donations given to the Fund by the State Governments 4 [ the Central Government ] , Companies or any other institutions for the purpose of the Fund as also the interest or other income received out of the Investments made from the Fund shall be credited to a separate sub-head under 800 - Other Receipts below the MH 0075 - Misc. General Services. (iii) Amount booked under the above receipt head shall be transferred to the Fund account under Major Head 8235 - General and other Reserve Fund - 116 -IE PF' by the PAO, Ministry of Corporate Affairs after making suitable budget provision under Major Head '3451 - Secretariat Economic Services 797 - Transfer to Reserve Fund Deposit Account - Transfer to Investor's Education and Protection Fund'. In case the amounts of receipts in a year is more than the budget provision made under Major Head 3451 transfer to the Fund, the difference shall be transferred to the Fund in subsequent year, after obtaining approval of the Budget Division of Department of Economic Affairs and after making adequate budget provision in the relevant year. (iv) Budget provision in connection with the activities to be financed from the Fund shall be made under Major Head 3451 - Secretariat Economic Services 090 Secretariat - Investor's Education and Protection Fund. Actual expenditure under the head shall be recouped from the Fund and the amount so recouped shall be accounted for under the Major Head 3451 as Deduct entry below Minor Head '902 - Deduct - amount met from Investor's Education and Protection Fund' with contra debit to Major Head - '8235 - General and Other Reserve Funds -116 - Investor's Education and Protection Fund'. ------------------- Notes:- 1. Substituted vide G.S.R. 178(E) - Dated 28-2-2017, w,e,f, 28th February, 2017 , before it was read as, (g) all amounts payable as mentioned in Sub-section (3) of section 10B of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and section 10B of Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980; and 2. Inserted vide NOTIFICATION [F. No. 05/01/2019-IEPF] dated 01-05-2019 3. Omitted vide NOTIFICATION No. [F. No. 05/02/2019-IEPF] dated 14-08-2019 w.e.f. 20-08-2019 before it was read as [except clause (g)] 4. Inserted vide NOTIFICATION No. [F. No. 05/02/2019-IEPF] dated 14-08-2019 w.e.f. 20-08-2019 5. Inserted vide Notification No. G.S.R. 396 (E) dated 09-06-2021