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TMI BlogInvestor Education and Protection FundAuthority (Accounting, Audit, Transfer and Refund)Second Amendment Rules, 2019X X X X Extracts X X X X X X X X Extracts X X X X ..... tember, 2019. 2. In the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, (hereinafter referred to as the principle rules), in rule 2,- (i) in sub-rule (1), in clause (d), after the words "and includes any other entity which is required to transfer any fund to the Investor Education and Protection Fund in accordance with any Act or statute governing it" , the words "and any transferee company in respect of the assets and liabilities of transferor company" shall be inserted ; (ii) in sub-rule (1), in clause (da), for the word "namely", the word "including" shall be substituted ; (iii) in sub-rule (1), clause (g) shall be omitted. 3. In the principal rules, in rule 3,- (i) in sub-rule (4), in clause (a), the words, brackets and letter "except clause (g)" shall be omitted; (ii) in sub-rule (4), in clause (b), in sub-clause (ii), after the words "State Government", the words " the Central Government" shall be inserted. 4. In the principal rules, in rule 5,- (i) for sub-rule (1), the following sub-rule shall be substituted, namely:- "(1) Any amount required to be credited by the companies to the Fund as provided under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and Protection Fund; and (e) such other information as may be considered necessary". 5. In the Principle rules, in rule 6- (i) in sub-rule (1), in the first proviso, after the worlds "any dividend warrant", the words "or any dividend amount has been credited to bank account of the owner of such shares" shall be inserted; (ii) in sub-rule (1), after third proviso, the following Explanation shall be inserted, namely:- "Explanation.- For removal of all doubts, it is hereby clarified that all shares in respect of which dividend has been transferred to Investor Education and Protection Fund on or before the 7th September 2016, shall also be transferred by the company in the name of Investor Education and Protection Fund"; (iii) for sub-rule (5) the following sub-rule shall be substituted, namely:- "(5) While effecting such transfer, the company shall send a statement to the Authority in Form No. IEPF-4 within thirty days of the corporate action taken under clause (c) of sub-rule (3) of rule 6 containing details of such transfer and the company shall also attach a copy of the public notice published under clause (a) of sub-rule (3) of rule 6 in Form No IEPF-4.". (iv) for s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... these rules."; (iii) after sub-rule (2A), the following sub-rule shall be inserted, namely:- "(2B) The details of the Nodal Officer and Deputy Nodal Officer duly indicating his or her designation, postal address, telephone and mobile number and company authorized e-mail ID shall be communicated to the Investor Education and Protection Fund Authority in Form No. IEPF - 2 within fifteen days from the date of publication of these rules and the company shall display the name of Nodal Officer and his e-mail ID on its website: Provided that any change in the Nodal Officer or his details shall be communicated to the Authority through Form No. IEPF-2 within seven days of such change along with board resolution thereof."; (iv) for sub-rule (3), the following sub-rule shall be substituted, namely:- "(3) The company shall, within thirty days from the date of receipt of claim, send an online verification report to the Authority after verification of details in Form No. IEPF-5 in the format specified by the Authority along with all the documents submitted by the claimant and shall attach the scanned copy of all the original documents submitted by the claimant in physical form duly cer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on examining any application for claim, finds it necessary to call for further information or finds such application or e-form or document to be defective or incomplete in any respect, the Authority shall give intimation of such information called for or defects or incompleteness, by e-mail on the email address of the claimant and the company, which has filed such application or e-form or document, directing him or it to furnish such information or to rectify such defects or incompleteness or to re-submit such application or e-Form or document within fifteen days from the date of receipt of such communication, failing which the Authority may reject the claim or e-form No. IEPF-5: Provided that if such information or incompleteness is called from the claimant, he shall file the e-form and shall send such documents as called for within fifteen days, duly signed by him, to the Nodal Officer of the concerned company at its registered office for verification of the claim and company shall send a revised verification report: Provided further that if any such information or incompleteness is called from the company, the company shall file the revised verification report and shall se ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iginal or copy of death certificate duly attested. 1.3. Self-attested copy of PAN card. 1.4. Original share certificate(s). 1.5. Any other government ID proof of the nominee. 2. Where the shares are held singly without nomination, the following documents in addition to the documents specified at paragraph 1 are required: 2.1 Affidavit from all the legal heirs made on appropriate non-judicial stamp paper- to the effect of identification and claim of legal ownership to the securities: Provided that in case the legal heir(s) or claimant(s) is named in the succession certificate or probate of will or Letter of Administration, an Affidavit from such legal heir(s) or claimant(s) alone would be sufficient. 2.2 For value of securities up to ₹ 2,00,000 (Rupees Two lakh only) per issuer company as on date of application, one or more of the following documents: (a) Succession certificate or probate of will or letter of administration or court decree, as may be applicable in terms of Indian Succession Act, 1925. (39 of 1925) (b)In the absence of the documents as mentioned at (a) above, (i). No objection certificate from all legal heir(s) executed by all the legal heirs ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uirement for securities held in DEMAT mode 1. Where the shares are held singly with nomination: 1.1. Duly signed transmission request form by the nominee. 1.2. Original or copy of death certificate duly attested 1.3. Self-attested copy of PAN card. 1.4. Copy of transaction statement duly certified by Depository Participant. 1.5. Any other government ID proof of the nominee. 2. Where the shares are held singly without nomination, the following documents in addition to the documents specified at paragraph 1 are required: 2.1 Affidavit from all the legal heirs made on appropriate non-judicial stamp paper- to the effect of identification and claim of legal ownership to the securities. Provided that in case the legal heir(s) or claimant(s) is named in the succession certificate or probate of will or Letter of Administration, an Affidavit from such legal heir(s) or claimant(s) alone would be sufficient. 2.2 For value of securities upto ₹ 2,00,000 (Rupees Two lakh only) per issuer company as on date of application, one or more of the following documents: (a) Succession certificate or probate of will or letter of administration or court decree, as may be applicabl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pees Two lakh only) per issuer company as on date of application:Succession certificate or probate of will or letter of administration or court decree, as may be applicable in terms of Indian Succession Act, 1925. (39 of 1925) Schedule III Documents to be submitted to the Authority in case of loss of securities held in physical mode. 1. Notarised copy of FIR/ Police Compliant containing information of security holder, holding details, folio number and distinctive numbers of share certificate. 2. Surety Affidavit of value equal to market value that of shares as on date of execution along with his Proof of identity like Pan Card of sureties duly attested by Notary. 3. Indemnity bond by security holder on a non-judicial stamp paper of requisite value duly attested by Notary Public by the person, in whose name the original share certificate are being issued that he has not sold / disposed off the involved shares or acted in any manner by which any interest of third party would have been created. 4. Copy of advertisement issued in at least one English language national daily newspaper having nationwide circulation and in one regional language daily newspaper published in the place ..... X X X X Extracts X X X X X X X X Extracts X X X X
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