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PFRDA notifies Third Amendment in Retirement Adviser Regulation, 2017

PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY

NOTIFICATION

New Delhi, the 11th September, 2017

PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY (RETIREMENT ADVISER) (THIRD AMENDMENT) REGULATIONS, 2017

No.PFRDA/12/RGL/139/10.— In exercise of the powers conferred by sub-section (1) of section 52 read with clause (w) of sub-section (2) thereof and clause (d) of sub-section 2 of Section 14 of the Pension Fund Regulatory and Development Authority Act, 2013 (23 of 2013), the Pension Fund Regulatory and Development Authority hereby makes the following regulations to amend the Pension Fund Regulatory and Development Authority (Retirement Adviser) Regulations, 2016 namely:

1. These regulations may be called the Pension Fund Regulatory and Development Authority (Retirement Adviser) (Third Amendment) Regulations, 2017.

2. They shall come into force on the date of their publication in the Official Gazette.

3. In the Pension Fund Regulatory and Development Authority (Retirement Adviser) Regulations 2016:-

(I) Sub-regulation (ii) of Regulation 8, shall be substituted as follows:

“Retirements Advisers who are individuals or carrying on proprietary concerns, upon registration shall provide security deposit in the form of bank fixed deposit receipt or performance bank guarantee of Rupees ten thousand to the Authority, before commencement of business. The bank fixed deposit receipt or performance guarantee to be so submitted shall be valid for a period of six months beyond the original or renewed period of registration so granted. The registration is liable to be cancelled if such deposit is not received within the time stipulated by the Authority, unless extended.”

(II) In Form “A” of First Schedule (See Regulation 3 and 11) : (i) Under serial No.3 (BUSINESS PLAN) sub-heading (2) shall stand deleted.

(ii) Under serial No.4 (DETAILS OF INFRASTRUCTURE) sub-heading (1) shall stand deleted and sub-heading (2) thereof shall be renumbered as (1).

HEMANT G. CONTRACTOR, Chairperson

[ADVT-III/4/Exty./ 215/ 17]

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