Pension Fund Regulatory and Development Authority (Pension Fund) (Fifth Amendment) Regulations, 2021

Pension Fund Regulatory and Development Authority (Pension Fund) (Fifth Amendment) Regulations, 2021

 PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY 

NOTIFICATION

New Delhi, the 25th May, 2021

PENSION FUND REGULATORY AND DEVELOPMENT AUTHORITY (PENSION FUND) (FIFTH AMENDMENT) REGULATIONS, 2021

No. PFRDA/12/RGL/139/9.—In exercise of the powers conferred by sub-section (1) of section 52 read with clauses (e), (m), (n), (o) and (p) 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 (Pension Fund) Regulations, 2015 namely, –

1. These regulations may be called the Pension Fund Regulatory and Development Authority (Pension Fund) (Fifth 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 (Pension Fund) Regulations, 2015: –

(I). In regulation 8, in sub-regulation (1), clause (d) shall be substituted as below-

 “(d) the sponsors, individually or jointly, shall have a positive tangible net worth of at least fifty crore rupees on the last day of each of the preceding five financial years and at least twenty-five crore rupees should be the paid up equity capital on the date of making application as sponsor;”

Footnote:

1. The Principal Regulations, The Pension Fund Regulatory and Development Authority (Pension Fund) Regulations, 2015 were published in the Gazette of India on 19th May, 2015 vide notification No. PFRDA/12/RGL/139/9.

2. The Pension Fund Regulatory and Development Authority (Pension Fund) (First Amendment) Regulations, 2016 were published in the Gazette of India on 8th September, 2016 vide notification No. PFRDA/12/RGL/139/9.

3. The Pension Fund Regulatory and Development Authority (Pension Fund) (Second Amendment) Regulations, 2020 were published in the Gazette of India on 5th February, 2020 vide notification No. PFRDA/12/RGL/139/9.

4. The Pension Fund Regulatory and Development Authority (Pension Fund) (Third Amendment) Regulations, 2020 were published in the Gazette of India on 14th May, 2020 vide notification No. PFRDA/12/RGL/139/9.

5. The Pension Fund Regulatory and Development Authority (Pension Fund) (Fourth Amendment) Regulations, 2021 were published in the Gazette of India on 1st April, 2021 vide notification No. PFRDA/12/RGL/139/9.