X hits on this document

PDF document

THE GAZETTE OF INDIA EXTRAORDINARY PART –III– SECTION 4 PUBLISHED BY AUTHORITY NEW ... - page 3 / 6

18 views

0 shares

0 downloads

0 comments

3 / 6

    • (b)

      awareness programmes including through media - print, electronic, aimed at investors;

    • (c)

      funding investor education and awareness activities of Investors’ Associations recognized by the Board;

    • (d)

      aiding investors’ associations recognized by the Board to undertake legal proceedings in the interest of investors in securities that are listed or proposed to be listed;

    • (e)

      refund of the security deposits which are held by stock exchanges and transferred to the Fund consequent on derecognition of the stock exchange as mentioned in clause (d) of regulation 4, in case the concerned companies apply to the Board and fulfill the conditions for release of the deposit;

    • (f)

      expenses on travel of members of the Committee, who are not officials of the Board, and special invitees to the meetings of the Committee, in connection with the work of the Committee;

    • (g)

      salary, allowances and other expenses of office of Ombudsman; and

    • (h)

      such other purposes as may be specified by the Board.

  • 6.

    Conditions for Aid.

The aid to investors’ associations, as referred to in clause (d) of sub-regulation (2) of regulation 5, shall be given by the Board in accordance with the guidelines made by it and subject to the following conditions:-

  • (a)

    that the aid shall not exceed seventy five per cent. of the total expenditure on legal proceedings;

  • (b)

    such aid shall not be considered for more than one legal proceeding in a particular matter;

  • (c)

    if more than one investors’ association applies for seeking legal aid, the investors’ association whose application is received first, shall be considered for such aid.

CHAPTER III ADVISORY COMMITTEE FOR THE FUND

Constitution of the Committee.

7.

(1)

(2)

The Board shall constitute an advisory committee for recommending investor education and protection activities that may be undertaken directly by the Board or through any other agency, for utilisation of the Fund for the purposes referred to in regulation 5. The Committee shall consist of the following members, namely:-

  • (a)

    the Executive Director of the Board in charge of Office of Investor Assistance and Education who shall be the convener of the Committee;

  • (b)

    two other officials of the Board;

  • (c)

    five other members who have expertise about the securities market and experience in matters of investor grievance redressal or investor education.

(3)

(a)

The term of office of members referred in clause (c) of sub-regulation (2) of regulation 7 shall be two years, which may be extended for a further period of two years.

3

Document info
Document views18
Page views18
Page last viewedThu Jan 19 23:50:38 UTC 2017
Pages6
Paragraphs169
Words1884

Comments