The Pension Fund Regulatory and Development Authority Act `2013

An Act to provide for the establishment of an Authority to promote old age income security by establishing, developing and regulating pension funds, to protect the interests of subscribers to schemes of pension funds and for matters connected therewith or incidental thereto.
2013
List of Chapters & Sections
  1. All sections

  2. 1
     Short title, extent and commencement
  3. 2
     Definitions
  4. 3
     Establishment and incorporation of Authority
  5. 4
     Composition of Authority
  6. 5
     Term of office and conditions of service of Chairperson and members of Authority
  7. 6
     Removal of members from office
  8. 7
     Restriction on future employment of members
  9. 8
     Administrative powers of Chairperson
  10. 9
     Meetings of Authority
  11. 10
     Vacancies, etc., not to invalidate proceedings of Authority
  12. 11
     Officers and employees of Authority
  13. 12
     Extent and application
  14. 13
     Transfer of assets, liabilities, etc., of Interim Pension Fund Regulatory and Development Authority
  15. 14
     Duties, powers and functions of Authority
  16. 15
     Power to issue directions
  17. 16
     Power of investigation
  18. 17
     Search and seizure
  19. 18
     Power of Authority to ensure compliance
  20. 19
     Management by Administrator
  21. 20
     National Pension System
  22. 21
     Central Recordkeeping Agency
  23. 22
     Point of presence
  24. 23
     Pension funds
  25. 24
     Certain restrictions on foreign companies or individual or association of persons
  26. 25
     Prohibition of investment of funds of subscribers outside India
  27. 26
     Eligibility norms of the central recordkeeping agency, etc
  28. 27
     Registration of central recordkeeping agency, pension fund, point of presence, etc
  29. 28
     Penalty for failure by an intermediary or any other person to comply with provisions of this Act, rules, regulations and directions
  30. 29
     Crediting sums realised by way of penalties to Subscriber Education and Protection Fund
  31. 30
     Power to adjudicate
  32. 31
     Attachment of assets and supersession of management of intermediary
  33. 32
     Offences
  34. 33
     Power to grant immunity
  35. 34
     Exemption from tax on wealth, income, profits and gains
  36. 35
     Cognizance of offences by court
  37. 36
     Appeal to Securities Appellate Tribunal
  38. 37
     Civil Court not to have jurisdiction
  39. 38
     Appeal to Supreme Court
  40. 39
     Grants by Central Government
  41. 40
     Constitution of Pension Regulatory and Development Fund
  42. 41
     Constitution of Subscriber Education and Protection Fund
  43. 42
     Accounts and audit
  44. 43
     Power of Central Government to issue directions
  45. 44
     Power of Central Government to supersede Authority
  46. 45
     Establishment of Pension Advisory Committee
  47. 46
     Furnishing of returns, etc., to Central Government
  48. 47
     Members, officers and employees of Authority to be public servants
  49. 48
     Protection of action taken in good faith
  50. 49
     Delegation of powers
  51. 50
     Offences by companies
  52. 50A
     Powers of Authority not to apply to International Financial Services Centre
  53. 51
     Power to make rules
  54. 52
     Power to make regulations
  55. 53
     Rules and regulations to be laid before Parliament
  56. 54
     Power to remove difficulties
  57. 55
     Application of other laws not barred
  58. 56
     Savings