THE PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY ACT, 2013 [Act No. 23 of 2013] [18th September, 2013] PREAMBLE (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.) Be it enacted by Parliament in the Sixty-fourth Year of the Republic of India as follows:--
View Complete Act List Judgments citing this sectionChapter I PRELIMINARY
View Complete Act List Judgments citing this sectionChapter II PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
View Complete Act List Judgments citing this sectionThe Chairperson shall have the powers of general superintendence and direction in respect of all administrative matters of the Authority.
View Complete Act List Judgments citing this section(1) The Authority shall meet at such times and places and shall observe such rules of procedure in regard to the transaction of business at its meetings (including quorum at such meetings) as may be provided by regulations. (2) The Chairperson or, if for any reason, he is unable to attend a meeting of the Authority, any other member chosen by the members present from amongst themselves at the meeting, shall preside at the meeting. (3) All questions which come up before any meeting of the Authority shall be decided by a majority of votes by the members present and voting, and in the event of an equality of votes, the Chairperson or in his absence, the person presiding shall have a second or casting vote. (4) If any member, who is a director of a company and who as such director, has any direct or indirect pecuniary interest in any matter coming up for consideration at a meeting of the Authority, he shall, as soon as possible after relevant circumstances have come to his knowledge, disclose the nature of his interest at such meeting and such disclosure shall be recorded in the proceedings of the Authority, and the member shall not take part in any deliberation or decision of.....
View Complete Act List Judgments citing this sectionNo act or proceeding of the Authority shall be invalid merely by reason of-- (a) any vacancy in, or any defect in the constitution of, the Authority; or (b) any defect in the appointment of a person acting as a member of the Authority; or (c) any irregularity in the procedure of the Authority not affecting the merits of the case.
View Complete Act List Judgments citing this section(1) The Authority may appoint such officers and other employees as it considers necessary for the efficient discharge of its functions under this Act. (2) The terms and other conditions of service of officers and other employees of the Authority appointed under sub-section (1) shall be such as may be determined by regulations.
View Complete Act List Judgments citing this sectionChapter III EXTENT AND APPLICATION
View Complete Act List Judgments citing this sectionChapter IV TRANSFER OF ASSETS, LIABILITIES, ETC., OF INTERIM PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY
View Complete Act List Judgments citing this section.....and all books of account and other documents relating to the same; and liabilities shall be deemed to include all debts, liabilities and obligations of whatever kind; (b) without prejudice to the provisions of clause (a), all debts, obligations and liabilities incurred, all contracts entered into and all matters and things engaged to be done by, with or for the Interim Pension Fund Regulatory and Development Authority immediately before that day, for or in connection with the purpose of the said Regulatory Authority, shall be deemed to have been incurred, entered into or engaged to be done by, with or for, the Authority; (c) all sums of money due to the Interim Pension Fund Regulatory and Development Authority immediately before that day shall be deemed to be due to the Authority; and (d) all suits and other legal proceedings instituted or which could have been instituted by or against the Interim Pension Fund Regulatory and Development Authority immediately before that day may be continued or may be instituted by or against the Authority.
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