IEPFA Recruitment of General Manager and Assistant General Manager Rules 2017 is applicable from 18th January 2017. The same was amended by the Investor Education and Protection Fund Authority (Recruitment, Salary and other Terms and Conditions of Service of GM and AGM) Amendments Rules 2019.
IEPFA Recruitment of Assistant General Manager Rules 2017 as amended by the Investor Education and Protection Fund Authority (Recruitment, Salary and other Terms and Conditions of Service of General Manager and Assistant General Manager) Amendments Rules, 2019.
Chapter VIII (Sections 123 to 127 ) of the Companies Act, 2013 deals with the provisions related to Declaration and Payment of Dividend. You may refer the provisions of section 125 “Investor Education and Protection Fund”.
The Investor Education and Protection Fund Authority (Recruitment, Salary and other Terms and Conditions of Service of General Manager and Assistant General Manager) Rules, 2017
[Published vide G.S.R. 46(E) dated 18-01-2017 and subsequently amended by G.S.R. 1175(E) dated 05-12-2018 and G.S.R. 702(E) dated 30-09-2019]
In exercise of the powers conferred by sub-section (7) of section 125 and section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules, namely: –
Rule-1: Short title and commencement
Rule-1(1): These rules may be called the Investor Education and Protection Fund Authority (Recruitment, Salary and other Terms and Conditions of Service of General Manager and Assistant General Manager) Rules, 2017.
Rule-1(2): These rules shall come into force on the date of their publication in the Official Gazette.
Rule-2: Definitions
Rule-2(1): In these rules, unless the context otherwise requires, –
- (a) “Act” means the Companies Act, 2013 (18 of 2013);
- (b) “Investor Education and Protection Fund Authority” means the Authority as defined under section 125 of the Act;
Rule-2(2): All the words and expressions used and not defined in these rules, but defined in the Act shall have the meanings as assigned to them in the Act.
Rule-3: Application
These rules shall apply to the General Manager and Assistant General Manager of the Investor Education and Protection Fund Authority.
Rule-4: Number of posts, classification and level in the pay matrix
The number of posts, their classification and level in the pay matrix attached thereto shall be as specified in columns (2) to (4) of the Schedule.
Rule-5: Method of recruitment, eligibility etc.
The method or recruitment, eligibility and other matters relating thereto shall be as specified in columns (5) to (13) of the Schedule.
Rule-6: Procedure for appointment on deputation
The following procedure shall be followed for making appointment on deputation to posts wherever prescribed in the Schedule:
Rule-6(1): The Investor Education and Protection Fund Authority shall invite applications for the posts of General Manager and Assistant General Manager.
Rule-6(2): The selection committee for evaluating the applications received under sub-rule 1 above shall be constituted as per column 12 of the schedule.
Rule-7: Period of deputation
The period of deputation, including the period of deputation in another ex-cadre post held immediately preceding this appointment in the same or some other organisation or department of the Central Government, shall be three years from the date of beginning of the deputation for the posts below LEVEL 11 in the PAY MATRIX of ₹67700 – 208700 and shall be five years for the posts of LEVEL 13 in the PAY MATRIX of ₹118500 – 214100 or above. The period of deputation may be extended as per extant instruction of the Department of Personnel and Training issued in this regard.
(2) The applicant for deputation should not have attained the age of fifty six years on the last date of receipt of applications. The instructions issued by Department of Personnel and Training shall be applicable to officers and staff serving on deputation basis to the Investor Education and Protection Fund Authority
Rule-8: Conditions of service
The conditions of service of the General Manager and Assistant General Manager of the Investor Education and Protection Fund Authority including in matters of pay, allowances and leave shall be regulated in accordance with such rules and regulations as are as the extant time applicable to the officers and employees of the corresponding Level in the Pay Matrix of the Central Government.
Rule-9: Accommodation
The General Manager and Assistant General Manager of the Investor Education and Protection Fund Authority shall have the option of claiming House Rent Allowance in accordance with the rate prescribed by the Central Government as applicable to officers and employees of the corresponding Levels in the Pay Matrix of the Central Government:
Provided that they shall not be eligible for House Rent Allowance in case they are declared eligible for general pool residential accommodation and occupy such a Government accommodation allotted to them.
Rule-10: Disciplinary Proceedings
The modalities of disciplinary proceedings against the General Manager and Assistant General Manager of the Investor Education and Protection Fund Authority shall be notified by the Chief Executive Officer of the Investor Education and Protection Fund Authority as per rules and regulations applicable to officers and employees of the corresponding Level in the Pay Matrix of the Central Government.
Rule-11: Disqualification
No person-
- (i) who has entered or contracted a marriage with a person having a spouse living, or
- (ii) who, having a spouse living, has entered into or contracted a marriage with any person,
Shall be eligible for appointment to the said posts:
Provided that the Central Government may, if satisfied that such marriage is permissible under the personal law applicable to such person and the other party to the marriage and that there are other grounds for so doing, exempt any person from the operation of this rule.
Rule-12: Power to relax
Where the Central Government is of the opinion that it is necessary or expedient to do so, it may, by order and for reasons to be recorded in writing, relax any of the provisions of these rules with respect to any class or category of persons.