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        Clause 145 - Establishment of Fund

        Finance Bill, 2015
        Chapter VIII
        SENIOR CITIZENS’ WELFARE FUND

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        Senior Citizens' Welfare Fund created; unclaimed savings after statutory dormancy transferred to support senior welfare. Establishes the Senior Citizens' Welfare Fund to receive unclaimed credit balances in specified savings schemes after they are declared inoperative and remain unclaimed for seven years, including small savings, Public Provident Fund accounts and other prescribed accounts, and provides that the Fund shall be utilised for promoting welfare of senior citizens and for other prescribed purposes while the Central Government will notify the eligible rate of interest for money in the Fund.
                          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.

                                Senior Citizens' Welfare Fund created; unclaimed savings after statutory dormancy transferred to support senior welfare.

                                Establishes the Senior Citizens' Welfare Fund to receive unclaimed credit balances in specified savings schemes after they are declared inoperative and remain unclaimed for seven years, including small savings, Public Provident Fund accounts and other prescribed accounts, and provides that the Fund shall be utilised for promoting welfare of senior citizens and for other prescribed purposes while the Central Government will notify the eligible rate of interest for money in the Fund.


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