Prohibition on pledging fund credits; transfers allowed only with assignment of participating interest and ministry authorization. Account balances under the Site Restoration Fund Scheme are prohibited from being pledged, offered as security, charged or alienated, except that where a ... Summary
Prohibition on pledging fund credits; transfers allowed only with assignment of participating interest and ministry authorization.
Account balances under the Site Restoration Fund Scheme are prohibited from being pledged, offered as security, charged or alienated, except that where a depositor assigns or transfers his participating interest the corresponding account amounts may be transferred to the transferee/assignee; such transfers by the deposit office require prior authorisation from the Ministry of Petroleum and Natural Gas.
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