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of <h1>Amendment to IEPF Rules 2016: New Transfer Restrictions, Minority Shareholder Funds, and Mandatory Reporting to IEPF Authority.</h1> The Central Government has amended the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, effective from the publication date in the Official Gazette. The amendment updates rule 6 by revising sub-rule (9) to restrict the transfer of shares in DEMAT accounts, except back to claimants or as per specific sub-rules. A new sub-rule (11A) allows the Authority to receive funds on behalf of minority shareholders under section 236, with conditions for verification and indemnification. Additionally, sub-rule (13A) mandates companies to remit amounts to the IEPF Authority's account at Punjab National Bank and report via Form No. IEPF-7 within thirty days.
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