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THE GAZETTE OF INDIA EXTRAORDINARY PART –III– SECTION 4 PUBLISHED BY AUTHORITY NEW ... - page 2 / 6

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(iv) default in redemption of securities or in payment of interest in terms of the offer document;

  • (v)

    fraudulent and unfair trade practices or market manipulation;

  • (vi)

    such other market misconduct which in the opinion of the Board may be

deemed appropriate; but does not include any proceeding where the Board is a party or where the Board has initiated any enforcement action;

    • (h)

      ‘Schedule’ means Schedule appended to these regulations.

  • (2)

    Words and expressions not defined in these regulations, but defined in or under the Act or the Securities Contracts (Regulation) Act, 1956 (42 of 1956) or the Depositories Act, 1996 (22 of 1996) or the regulations made thereunder or the Companies Act, 1956 (1 of 1956) or any statutory modification or re-enactment thereof, shall have the same meanings as have been assigned to them by or under those enactments, unless the context requires otherwise.

CHAPTER II INVESTOR PROTECTION AND EDUCATION FUND

Establishment of Fund.

3. (1) (2)

There shall be a Fund to be called the Investor Protection and Education Fund. The Fund shall be deemed to have been established on 23rd day of July, 2007, by the order made by the Board under section 11 of the Act.

Amounts to be credited to the Fund.

  • 4.

    The following amounts shall be credited to the Fund:-

    • (a)

      contribution as may be made by the Board to the Fund;

    • (b)

      grants and donations given to the Fund by the Central Government, State Government or any other entity approved by the Board for this purpose;

    • (c)

      proceeds in accordance with the sub-clause (ii) of clause(e) of sub-regulation (12) and the sub- regulation (13)of regulation 28 of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 1997;

    • (d)

      security deposits, if any, held by stock exchanges in respect of public issues and rights issues, in the event of de-recognition of such stock exchanges;

    • (e)

      amounts in the Investor Protection Fund and Investor Services Fund of a stock exchange, in the event of de-recognition of such stock exchange;

    • (f)

      interest or other income received out of any investments made from the Fund;

    • (g)

      such other amount as the Board may specify in the interest of investors.

The Fund shall be utilised for the purpose of protection of investors and investor education and awareness in accordance with these regulations. Without prejudice to the generality of the object in sub-regulation (1), the used for the following purposes, namely:-

promotion of

Fund may be

(a) educational activities including seminars, training, research and aimed at investors;

publications,

(2)

Utilisation of Fund.

5. (1)

2

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