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of <h1>Site Restoration Fund: Transfer of Interests Requires Ministry Approval; No Pledging as Loan Security Allowed</h1> The Site Restoration Fund Scheme, 1999, specifies that amounts in an account cannot be pledged or used as security for loans or guarantees, nor can they be charged or alienated, except as allowed in certain conditions. If a depositor transfers or assigns their participating interest in an agreement, they may also transfer or assign corresponding amounts in their account to the transferee or assignee. Such transfers require prior authorization from the Ministry of Petroleum and Natural Gas, and the deposit office cannot proceed without this authorization.
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