Section 7
Restriction on future employment of members.
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 Chairperson and the whole-time
members shall not, for a period of two years from the date on which they cease to hold office as such,
except with the previous approval of the Central Government, accept--
(a) any employment either under the Central Government or under any State Government; or
(b) any appointment in any regulated entity in the pension sector.
(2) The Chairperson and the whole-time members of the Interim Pension Fund Regulatory and Development Authority holding the office as such before the commencement of this Act, shall not, on and after such commencement, accept any appointment in any regulated entity in the pension sector for a period of two years from the date on which they cease to hold office as such, except with the previous approval of the Central Government.
(a) any employment either under the Central Government or under any State Government; or
(b) any appointment in any regulated entity in the pension sector.
(2) The Chairperson and the whole-time members of the Interim Pension Fund Regulatory and Development Authority holding the office as such before the commencement of this Act, shall not, on and after such commencement, accept any appointment in any regulated entity in the pension sector for a period of two years from the date on which they cease to hold office as such, except with the previous approval of the Central Government.