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

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    • (b)

      Any vacancy arising out of resignation, retirement or death of a member or for any other reason shall be filled by the Board for the remaining period of the term of such member.

  • (4)

    The Board may dissolve and reconstitute the Committee if, at any time, the Board is of the opinion that the Committee is unable to discharge the functions and duties imposed on it by or under these regulations.

Functions of the Committee.

8.

The Committee shall consider investor education and protection activities keeping in view

the purposes mentioned in regulation 5 and the regulation 6 and submit its recommendations thereon to the Board.

Meetings of the Committee.

  • 9.

    (1) Meetings of the Committee shall be convened at least once in three months by the convener or in his absence, by any member nominated by the convener, on his behalf.

    • (2)

      Four members of the Committee shall constitute the quorum for the transaction of business at a meeting of the Committee.

    • (3)

      Every member, who is directly or indirectly interested in any matter coming up for consideration at a meeting of the Committee, shall disclose the nature of his interest at such meeting and such disclosure shall be recorded in the proceedings of the meeting of the Committee and such member shall not take part in any deliberation of the Committee with respect to that matter.

Expenses of the Committee.

  • 10.

    (1) The expenses including travel and other allowances of members of the Committee, who are officials of the Board, and invitees who are officials of the Board, shall be borne by the Board in accordance with their entitlements.

    • (2)

      The expenses including travel and other allowances of members of the Committee, who are not officials of the Board, and invitees who are not officials of the Board, may be borne by the Fund.

CHAPTER IV INVESTMENT, ACCOUNTS AND AUDIT

Investment, maintenance of accounts and audit of accounts.

  • 11.

    (1) The Board shall ensure maintenance of proper and separate accounts and other relevant records in relation to the Fund giving therein the details of all receipts to, and, expenditure from, the Fund and other relevant particulars in accordance with the SEBI (Form of Annual Statement of Accounts and Records) Rules, 1994 as far as such rules apply.

    • (2)

      The accounts referred to in sub regulation (1) shall be prepared and audited before the expiry of six months from the end of each financial year.

    • (3)

      The investment of the Fund may be in the manner of investments of other funds of the Board.

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