LawgistThe Pension Fund Regulatory and Development Authority Act
10Vacancies, etc., not to invalidate proceedings of Authority
No act or proceeding of the Authority shall be invalid merely by reason of--
(a) any vacancy in, or any defect in the constitution of, the Authority; or
(b) any defect in the appointment of a person acting as a member of the Authority; or
(c) any irregularity in the procedure of the Authority not affecting the merits of the case.
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All sections
- 1 Short title, extent and commencement
- 2 Definitions
- 3 Establishment and incorporation of Authority
- 4 Composition of Authority
- 5 Term of office and conditions of service of Chairperson and members of Authority
- 6 Removal of members from office
- 7 Restriction on future employment of members
- 8 Administrative powers of Chairperson
- 9 Meetings of Authority
- 10 Vacancies, etc., not to invalidate proceedings of Authority
- 11 Officers and employees of Authority
- 12 Extent and application
- 13 Transfer of assets, liabilities, etc., of Interim Pension Fund Regulatory and Development Authority
- 14 Duties, powers and functions of Authority
- 15 Power to issue directions
- 16 Power of investigation
- 17 Search and seizure
- 18 Power of Authority to ensure compliance
- 19 Management by Administrator
- 20 National Pension System
- 21 Central Recordkeeping Agency
- 22 Point of presence
- 23 Pension funds
- 24 Certain restrictions on foreign companies or individual or association of persons
- 25 Prohibition of investment of funds of subscribers outside India
- 26 Eligibility norms of the central recordkeeping agency, etc
- 27 Registration of central recordkeeping agency, pension fund, point of presence, etc
- 28 Penalty for failure by an intermediary or any other person to comply with provisions of this Act, rules, regulations and directions
- 29 Crediting sums realised by way of penalties to Subscriber Education and Protection Fund
- 30 Power to adjudicate
- 31 Attachment of assets and supersession of management of intermediary
- 32 Offences
- 33 Power to grant immunity
- 34 Exemption from tax on wealth, income, profits and gains
- 35 Cognizance of offences by court
- 36 Appeal to Securities Appellate Tribunal
- 37 Civil Court not to have jurisdiction
- 38 Appeal to Supreme Court
- 39 Grants by Central Government
- 40 Constitution of Pension Regulatory and Development Fund
- 41 Constitution of Subscriber Education and Protection Fund
- 42 Accounts and audit
- 43 Power of Central Government to issue directions
- 44 Power of Central Government to supersede Authority
- 45 Establishment of Pension Advisory Committee
- 46 Furnishing of returns, etc., to Central Government
- 47 Members, officers and employees of Authority to be public servants
- 48 Protection of action taken in good faith
- 49 Delegation of powers
- 50 Offences by companies
- 50A Powers of Authority not to apply to International Financial Services Centre
- 51 Power to make rules
- 52 Power to make regulations
- 53 Rules and regulations to be laid before Parliament
- 54 Power to remove difficulties
- 55 Application of other laws not barred
- 56 Savings
