IEPFA Form of Annual Statement of Accounts Rules 2018

The Investor Education and Protection Fund Authority i.e. IEPFA Form of Annual Statement of Accounts Rules 2018 applicable from October 2018.

IEPFA Form of Annual Statement of Accounts Rules 2018 is applicable from 11th October 2018 vide Notification No. G.S.R. 1023(E), dated 11-Oct-2018.

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”.

Forms of Financial Statements, Incurring of Expenditure by the Authority, Annual Statement of Accounts and Maintenance of Accounts etc.

The Investor Education and Protection Fund Authority (Form of Annual Statement of Accounts) Rules, 2018

[Published vide G.S.R. 1023(E), dated 11-10-2018]

In exercise of the powers conferred by sub-section (11) of section 125 read with 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 (Form of Annual Statement of Accounts) Rules, 2018.

Rule-1(2): They shall come into force on the date of their publication in the Official Gazette.

Rule-2: Definitions

Rule-2(1): In these rules, unless context otherwise requires, –

  • a) “Act” means the Companies Act, 2013 (18 of 2013);
  • b) “Authority” means the Investor Education and Protection Fund Authority constituted under subsection (5) of section 125 of the Act;
  • c) ‘Form’ means the Form annexed to these rules;
  • d) “Fund” means the Investor Education and Protection Fund established under sub-section (1) of section 125 of the Act;
  • e) “investor” means any person, who has invested money in shares or debentures, bond or deposits under a scheme or plan of a company registered under the Act;
  • f) ‘Schedule’ means the Schedule to the Form annexed to these rules;
  • g) “year” means the financial year beginning on 1st April and ending on 31st March of the year immediately following.

Rule-2(2): Words and expressions used herein and not defined but defined in the Act shall have the same meanings assigned to them in the Act.

Rule-3: Forms of Financial Statements

Rule-3(1): The Authority shall maintain its accounts in the Form of financial statements annexed to these rules.

Rule-3(2): The Authority shall follow the instructions and accounting principles for maintaining the financial statements issued or laid down by the Central Government from time to time.

Rule-3(3): The financial statements shall give a true and fair view of the State of affairs of the Authority and shall comply with the Accounting Standards notified under section 133 of the Act.

Rule-4: Incurring of Expenditure by the Authority

The officer of the Authority incurring or authorising expenditure from the Fund shall follow the Standards of financial propriety and the General Financial Rules, 2017.

Rule-5: Annual Statement of Accounts

Rule-5(1): At the end of a period of twelve months ending with 31st March of every year, the Authority shall prepare the following financial statements along with Schedules, as required, notes on accounts and significant accounting policies in accordance with the notes and instructions for compilation of financial statements prescribed by Government of India, Ministry of Finance, Controller-General of Accounts as modified and annexed to these rules:

  • (i) balance sheet,
  • (ii) income and expenditure Account,
  • (iii) receipt and payment Account.

Rule-5(2): The balance sheet, income and expenditure account and receipt and payment account and the Schedules referred to in sub-rule (1), shall be approved and adopted by the Authority or a Committee authorised by the Authority on its behalf and for the purpose of authentication, the same shall be signed by the Chairperson and one Member of the Authority.

Rule-5(3): The approved accounts of the Authority shall be forwarded to the Comptroller and Auditor-General of India or any other person appointed by him on his behalf within the period of three months after the expiry of the year for the purposes of audit.

Rule-5(4): The annual accounts of the Authority, as certified by the Comptroller and Auditor General of India or any other person appointed by him on his behalf, alongwith the audit report thereon after adoption by the Authority shall be forwarded to the Central Government for laying before both the Houses of Parliament.

Rule-6: Maintenance of Accounts etc.

The Authority shall preserve the balance sheet, income and expenditure account, Schedules to the above statements and the receipt and payment account referred to in sub-rule (1) of rule 5 for a minimum period of eight years, following the year to which they relate.


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