India:
Investor Education And Protection Fund Authority (Accounting, Audit, Transfer And Refund) Second Amendment Rules, 2017
04 December 2017
Clyde & Co
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The MCA vide its notification dated October 13, 2017, further
amended Investor Education and Protection Fund Authority
(Accounting, Audit, Transfer and Refund) Rules, 2016. The Rules,
inter-alia, provides that transfer of shares by company to the
Investor Education and Protection Fund ("Fund") will be
treated as transmission and the procedure for transmission shall be
followed by the companies and also prescribes the mechanism for
transfer of shares in physical mode. Further, every company which
has deposited the amount to the Fund is required to nominate a
Nodal Officer for the purpose of coordination with Fund Authority
and his or her details are to be communicated to the Fund
Authority.
This update is authored by Clasis Law, Clyde &
Co's associated firm in India
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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