Investor Education and Protection Fund created to hold unclaimed corporate monies and finance investor education and refunds. The provision creates the Investor Education and Protection Fund to receive specified unclaimed corporate monies, grants, donations and investment income, and permits use of the Fund for refunds of unclaimed corporate payments, investor education and protection, distribution of disgorged amounts, reimbursement of sanctioned class-action expenses and incidental purposes. Administration is vested in an authority appointed by the Central Government, which must maintain separate accounts, consult the Comptroller and Auditor General on account form, audit and forward annual accounts and reports for parliamentary laying, and expend Fund moneys to achieve its objects in accordance with prescribed rules.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Investor Education and Protection Fund created to hold unclaimed corporate monies and finance investor education and refunds.
The provision creates the Investor Education and Protection Fund to receive specified unclaimed corporate monies, grants, donations and investment income, and permits use of the Fund for refunds of unclaimed corporate payments, investor education and protection, distribution of disgorged amounts, reimbursement of sanctioned class-action expenses and incidental purposes. Administration is vested in an authority appointed by the Central Government, which must maintain separate accounts, consult the Comptroller and Auditor General on account form, audit and forward annual accounts and reports for parliamentary laying, and expend Fund moneys to achieve its objects in accordance with prescribed rules.
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