Pension fund - the California Public Employees Retirement System Specified as the specified person by Central Government.

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....OME-TAX) S.O. 400 (E).-In exercise of powers conferred by sub-clause (iv) of clause (c) of the Explanation 1 to clause (23FE) of section 10 of the Income-tax Act, 1961 (43 of 1961) (hereinafter referred to as the "Act"), the Central Government hereby specifies the pension fund, namely, the California Public Employees Retirement System (PAN: AAATC6038J), (hereinafter referred to as "the assessee....

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....urn a certificate in Form No. 10BBC in respect of compliance to the provisions of clause (23FE) of section 10 of the Act, during the financial year, from an accountant as defined in the Explanation below sub-section (2) of section 288 of the Act, as per the provisions of clause (vi) of rule 2DB of the Income -tax Rules, 1962; (iii) the assessee shall intimate the details in respect of eac....

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....its or any similar compensation to the participants or beneficiaries of such funds or plans, as the case may be; (vii) the earnings and assets of the assessee should be used only for meeting statutory obligations and defined contributions for participants or beneficiaries of funds or plans referred to in clause (vi) and no portion of the earnings or assets of the pension fund inures any b....

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....nt directors or executive director shall not be considered as participation in the day to day operations of the investee; and (x) the said investments of the assessee shall be held for at least three years as required under sub-clause (ii) of clause (23FE) of section 10 of the Act. 2. Violation of any of the conditions stipulated in clause (23FE) of section 10 of the Act and this notif....