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REGISTRATION WITH AND FINANCIAL ASSISTANCE FROM IEPF |
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Who
can register with
IEPF?
Any voluntary
organization or
association engaged
in the activities
relating to
investors awareness,
education and
protection and
proposing investors
programmes,
organizing seminars;
symposia and
undertaking projects
for investor
protection including
research activities
can register itself
under IEPF (Form 3).
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Criteria/guidelines
for financial
assistance from
IEPF
Any organization
which is engaged
in the
activities
relating to
investors
awareness,
education and
protection and
proposing for
investors
programmes,
organizing
seminars;
symposia and
undertake
projects for
investor
protection
including
research
activities can
apply for
financial
assistance from
IEPF subject to
the following
criteria/guidelines: |
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Any entity that
has a viable
project proposal
on investor
education and
protection shall
be eligible for
assistance. |
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The limit for
each entity for
assistance from
IEPF shall be
subject to 5% of
the budget of
IEPF during that
financial year
and not
exceeding 80% of
the amount to be
spent on the
proposed
programme/activity. |
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The entities
already engaged
in activities
relating to
investor
awareness,
education and
protection and
proposing to
take up
investors
programmes,
organizing
seminars,
symposia etc.
shall undertake
projects for
investor
protection
including
research
activities. |
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The entities
shall be
registered under
the Societies
Registration Act
or formed as
Trusts or
incorporated
companies. |
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Entities shall,
unless specific
exemption has
been made in
this regard by
the IEPF
Committee, be in
existence for a
minimum period
of 2 years prior
to its date of
application for
registration. |
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Entities shall
have a minimum
of 20 members
and a proven
record of at
least 2 years. |
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Entities shall
have rules,
regulations and/
or by-laws for
its governance
and management.
These rules,
regulations and
or by-laws shall
be in conformity
with the
conditions of
registration.
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The entity shall
be managed by a
governing
board/management
committee. |
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No profit-making
entity shall be
eligible for
registration for
the purposes of
financial
assistance from
the fund.
Notwithstanding
the above, the
IEPF Committee
can give a
project to any
organization. |
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The amount of
grant assistance
given from IEPF
shall be subject
to an audit by
the Ministry of
Corporate
Affairs to
ensure its
proper
utilization. |
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While
considering
proposals, the
IEPF Committee
shall take into
account the
audited accounts
and the annual
reports of the
last three years
of the entity
seeking
assistance from
IEPF. |
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Procedure
for financial
assistance |
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Such entities
that fulfill the
criteria/guidelines
for the purpose
of financial
assistance from IEPF may apply
to the IEPF for such
assistance in
Form
4. |
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The
feasibility of
the project,
quantum of
financial
assistance,
genuineness of
the
organization,
etc. is then
evaluated by the
Sub Committee of IEPF in its meetings
held in regular
intervals. |
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After the
Sub -Committee
approves the
proposal, IEPF
issues the financial
sanction with the
approval of Internal
Finance Wing of the
Ministry of
Corporate Affairs.
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The amount
is then released
to the
organization,
but only after
it submits a
pre-defined Bond
and a
pre-receipt to
IEPF. |
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After the
project is
completed, the
organization is
required to
submit the funds
utilization
certificate and
copies of the
bills etc. to IEPF for
scrutiny. |
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