MANU/NMIC/0259/2021

Department/Board : Pension Fund Regulatory and Development Authority

Notification No. : PFRDA/12/RGL/139/10

Date of Notification : 22.09.2021

Date of Publication : 22.09.2021

Notification/ Circulars Referred : Notification No. PFRDA/12/RGL/10 MANU/NMIC/0074/2015

Citing Reference:
Notification No. PFRDA/12/RGL/10 MANU/NMIC/0074/2015  Referred

Pension Fund Regulatory and Development Authority (Custodian of Securities) (Amendment) Regulations, 2021

F. No. PFRDA/12/RGL/139/10.--In exercise of the powers conferred by sub-section (1) of section 52 read with clauses (e), (n), (o), (p) and (w) of sub-section (2) thereof 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 (Custodian of Securities) Regulations, 2015 namely, -

1. These regulations may be called the Pension Fund Regulatory and Development Authority (Custodian of Securities) (Amendment) Regulations, 2021.

2. These shall come into force on the date of their publication in the official gazette.

3. In the Pension Fund Regulatory and Development Authority (Custodian of Securities) Regulations, 2015: -

(I). After clause (b) of sub-regulation (1) of regulation 8, the following proviso shall be inserted-

"Provided that in the same group where the sponsor of a Pension Fund, Trustee Bank or central record keeping agency or their associates, are holding 50 percent or more of the voting rights of the share capital of a custodian, it can apply to become Custodian with the Authority under following conditions:

(i) the sponsor, associates or the holding company, as the case may be, should have net worth of at least Rs.50,000 crore at all points of time;