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TMI BlogInvestor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2024.X X X X Extracts X X X X X X X X Extracts X X X X ..... lled the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2024. (2) These rules shall come into force on the date of their publication in Official Gazette. 2. In the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 (hereinafter referred to as the said rules), in Schedule II , (1) for the word shares , wherever it occurs, the word securities , shall be substituted; (2) In Part A, (i) in item 2, (a) in sub-item 2.2, in clause (a), after the word Tribunal , the words or legal heir certificate issued by the revenue authority not below the rank of Tahsildar having jurisdiction shall be inserted; (b) in sub-item 2.3, after the wor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... words or legal heir certificate issued by the revenue authority not below the rank of Tahsildar having jurisdiction shall be inserted; (b) in sub-item 4.3, after the word Tribunal , the words or legal heir certificate issued by the revenue authority not below the rank of Tahsildar having jurisdiction shall be inserted; (c) in the Explanation , for clause (2), the following clauses shall be substituted, namely: (2) In cases where a copy of Will is submitted as may be applicable in terms of the Indian Succession Act,1925 (39 of 1925), the same shall be accompanied with a notarised indemnity bond from the claimant to whom the securities are transmitted. (3) In cases where a copy of legal heir certificate issued by the revenue authority not be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e (2), the following clauses shall be substituted, namely: (2) In cases where a copy of Will is submitted as may be applicable in terms of the Indian Succession Act, 1925 (39 of 1925), the same shall be accompanied with a notarised indemnity bond from the claimant to whom the securities are transmitted. (3) In cases where a copy of legal heir certificate issued by the revenue authority not below the rank of Tahsildar having jurisdiction is submitted, the same shall be accompanied with: (a) a notarised indemnity bond from the legal heir or claimant to whom the securities are transmitted; (b) a no objection certificate from all non-claimants, stating that they have relinquished their rights to the claim for transmission of securities, duly at ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mitted; (b) a no objection certificate from all non-claimants, stating that they have relinquished their rights to the claim for transmission of securities, duly attested by a notary public or by a gazetted officer. (4) The value of the securities as on the date of application shall be quantified by the applicant on the basis of the closing price of such securities at any one of the recognised stock exchange a day prior to the date of such submission in the application, for listed securities and for unlisted securities, the value shall be quantified basis on the face value or the maturity value of the security, whichever is more. . 3. In Schedule III of the said rules, (1) for the word, shares wherever it occurs, the word securities , shall ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... amely: The company shall take special contingency insurance policy from the insurance company towards the risk arising out of such claim in respect of verification report under sub-rule (3) of rule 7 or the revised verification report under the second proviso of sub-rule (7) of the said rule, as the case may be . [F. No. 05/01/2021-IEPF] ANITA SHAH AKELLA, Jt. Secy. Note. The principal rules were published in the Gazette of India vide number G.S.R. 854 (E), dated the 5th September, 2016 and amended vide notification number G.S.R. 178(E) dated the 28th February, 2017, G.S.R. 1267 (E) dated the 13 th October, 2017, G.S.R. 472 (E) dated the 22.05.2018, G.S.R. 343(E) dated the 1st May, 2019, G.S.R. 571(E) dated the 14th August, 2019 , G.S.R. 39 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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