Unclaimed bank dividends of corresponding new banks to be transferred to Investor Education and Protection Fund after seven years. The rules define 'corresponding new bank' and require amounts transferred to a corresponding new bank's Unpaid Dividend Account that remain unpaid or unclaimed for seven years to be credited to the Investor Education and Protection Fund; Form I is amended to substitute 'company' with 'company and corresponding new bank.'
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Provisions expressly mentioned in the judgment/order text.
Unclaimed bank dividends of corresponding new banks to be transferred to Investor Education and Protection Fund after seven years.
The rules define "corresponding new bank" and require amounts transferred to a corresponding new bank's Unpaid Dividend Account that remain unpaid or unclaimed for seven years to be credited to the Investor Education and Protection Fund; Form I is amended to substitute "company" with "company and corresponding new bank."
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