Section 41
Constitution of Subscriber Education and Protection Fund.
The Pension Fund Regulatory and Development Authority Act, 2013
About this Act
An Act to provide for the establishment of an Authority to promote old age income security by establishing, developing and regulating pension funds, to protect the interests of subscribers to schemes of pension funds and for matters connected therewith or incidental thereto.
(1) The Authority shall establish
a fund to be called the Subscriber Education and Protection Fund.
(2) There shall be credited to the Subscriber Education and Protection Fund the following amounts, namely:—
(a) grants and donations given to the Subscriber Education and Protection Fund by the Central Government, State Governments, companies or any other institutions for the purposes of the Subscriber Education and Protection Fund;
(b) the interest or other income received out of the investments made from the Subscriber Education and Protection Fund;
(c) the sums realised by way of penalties by the Authority under section 28.
(3) The Subscriber Education and Protection Fund shall be administered and utilised by the Authority for protection of the interests of subscribers in accordance with regulations made for the purpose.
(2) There shall be credited to the Subscriber Education and Protection Fund the following amounts, namely:—
(a) grants and donations given to the Subscriber Education and Protection Fund by the Central Government, State Governments, companies or any other institutions for the purposes of the Subscriber Education and Protection Fund;
(b) the interest or other income received out of the investments made from the Subscriber Education and Protection Fund;
(c) the sums realised by way of penalties by the Authority under section 28.
(3) The Subscriber Education and Protection Fund shall be administered and utilised by the Authority for protection of the interests of subscribers in accordance with regulations made for the purpose.