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Investor Education and Protection Fund Authority (Recruitment, Salary and other Terms and Conditions of Service of General Manager and Assistant General Manager) Rules, 2017

 

NOTIFICATION

New Delhi, the 18th January, 2017

G.S.R. 46(E).—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:-

  1. Short title and commencement. – (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

(2) These rules shall come into force on the date of their publication in the Official Gazette. 2. Definitions. – (1) In these rules, unless the context otherwise requires,-

(a) “Act” means the Companies Act, 2013 (18 of 2013);

(b) “Investor Education and Protection FundAuthority” means the Authority as defined under section 125 of the Act;

(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.

  1. Application. -These rules shall apply to the General Manager and Assistant General Managerof the Investor Education and Protection Fund Authority.
  2. 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.
  3. 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.
  4. Procedure for appointment on deputation. – The following procedure shall be followed for making appointment on deputation to posts wherever prescribed in the Schedule:

(1) The Investor Education and Protection Fund Authority shall invite applications for theposts of General Manager and Assistant General Manager.

(2) The selection committee for evaluating the applications received under sub-rule 1 above shall be constituted as per column 12 of the schedule.

  1. 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 Rs67700 – 208700and shall be five years for the posts of LEVEL 13 in the PAY MATRIXof Rs 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

  1. 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.
  2. 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.

  1. Disciplinary Proceedings. – The modalities of disciplinary proceedings against the General Manager and Assistant General Manager of theInvestor Education and Protection Fund Authority shall be notified by the Chief Executive Officerof 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.
  2. 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.

  1. 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.
Name of the Post Number of Post Classification LEVEL in the Pay Matrix Whether selection post or non selection post Age limit for direct recruits Educational and other qualifications required for direct recruits Whether age and other educational qualifications prescribed for direct recruits will apply in the case of promotees
1 2 3 4 5 6 7 8
(1) General Manager, IEPF Authority *1 (2017) *Subject to variation depending on work load Not applicable Level – 13 in pay matrix of Rs. 118500 – 214100. Not applicable Not applicable Not applicable Not applicable
(2) Assistant General Manager, IEPF Authority *1 (2017) *Subject to variation depending on work load Not applicable Level – 10 is the pay matrix of Rs. 56100 – 177500 Not applicable Not applicable Not applicable Not applicable

 

Period of probation, if any Method of recruitment, whether by direct recruitment or by promotion or by deputation or absorptions and percentage of posts to be filled by various methods In case of recruitment by promotion or deputation or absorption, grades from which promotion/ deputation/ absorption is to be made If Departmental Promotion Committee exists, what is its composition Circumstances in which UPSC is to be consulted in making recruitment
9 10 11 12 13
Not Applicable Deputation By Deputation

Officers of the Central or State Government

(i)                  holding analogous post on regular basis.

– or—

(ii)                with six years regular service in LEVEL 12 in the Pay Matrix of Rs. 78800 – 209200.

–or—

(iii)               with ten years regular service in LEVEL 11 in the Pay Matrixof Rs 67700 – 208700

Desirable: Having experience in Administration/ Establishment

The Selection Committee for deputation consists of:

(i)           Additional Secretary, Ministry of Corporate Affairs — Chairman

(ii)          Joint Secretary, Ministry of Corporate Affairs — Member

(iii)         Joint Secretary, Ministry of Corporate Affairs — Member

Not Applicable
Not Applicable Deputation By Deputation

Officers of the Central or State Government

(i)                  holding analogous post on regular basis. -or-

(ii)                 with two years regular service in LEVEL 8 in the Pay Matrix of Rs. 47600 – 151100

Desirable: Having experience in Administration/Establishment

The Selection Committee for deputation consists of :

(i) Additional Secretary, Ministry of Corporate Affairs — Chairman (ii) Joint Secretary, Ministry of Corporate Affairs — Member

(iii) Joint Secretary, Ministry of Corporate Affairs — Member

Not Applicable
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