Investor education and protection fund authority (Accounting, Audit, Transfer and Refund) Amendment Rules, 2017

Central Government makes the Investor Education and Protection (Accounting, Audit, Transfer and Refund) Amendment Rules, 2017 to amend Investor Education and Protection (Accounting, Audit, Transfer and Refund) Rules, 2016 to substitute following paragraph-

"Company" means a company defined in sub-section (20) of section 2 of the Act and includes 'corresponding new bank' as defined in sub-section (d) of section 2 of the Banking Companies ( Acquisition and Transfer of Undertakings) Act, 1970 and clause (b) of section 2 of Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 and 'subsidiary bank' as defined in clause (k) of section 2 of State Bank of India (Subsidiary Bank) Act, 1959.

" Corporate action' means any action taken by the company relating to transfer of shares and all the benefits accruing on such shares namely, bonus shares, split, consolidation, fraction shares etc., except right issue to the Authority;

All amounts payable as mentioned in sub-section (3) of section 10B of Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, section 10B of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1980 and section 40A of the State Bank of India (Subsidiary Bank) Act, 1959.