Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Second Amendment Rules, 2017 - F. No. 05/17/2017-IEPF - Companies Law
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Transfer of shares to IEPF deemed transmission; companies must follow transmission procedure and convert physical shares to demat. Rule 6 treats transfers of shares to the IEPF Authority as deemed transmissions, requiring companies to follow transmission procedure, issue new share certificates for physical holdings with notation for transfer to IEPF, record particulars in Form SH-I, and convert certificates to DEMAT for transfer. Amounts payable are to be remitted into the Authority's specified Punjab National Bank account and the Authority must report company noncompliance to the Central Government. Rule 7 requires companies depositing amounts to nominate and display a Nodal Officer and allows the Authority to reject Form IEPF-5 for failure to furnish documents after providing the claimant an opportunity to respond.
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.
Transfer of shares to IEPF deemed transmission; companies must follow transmission procedure and convert physical shares to demat.
Rule 6 treats transfers of shares to the IEPF Authority as deemed transmissions, requiring companies to follow transmission procedure, issue new share certificates for physical holdings with notation for transfer to IEPF, record particulars in Form SH-I, and convert certificates to DEMAT for transfer. Amounts payable are to be remitted into the Authority's specified Punjab National Bank account and the Authority must report company noncompliance to the Central Government. Rule 7 requires companies depositing amounts to nominate and display a Nodal Officer and allows the Authority to reject Form IEPF-5 for failure to furnish documents after providing the claimant an opportunity to respond.
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