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Wednesday, July 2, 2014

PFRDA Circular - Pension Fund Regulatory and Development Authority (Appeal to Securities Appellate Tribunal) Rules, 2014

Pension Fund Regulatory and Development Authority (Appeal to Securities Appellate Tribunal) Rules, 2014
MINISTRY OF FINANCE
(Department of Financial Services)
NOTIFICATION
New Delhi, the 26th May, 2014

G.S.R. 358 (E).—In exercise of the powers conferred by clauses (f), (g) and (j) of sub-section (2) of Section 51, read with sub-section (6) of Section 36, of the Pension Fund Regulatory and Development Authority Act, 2013 (23 of 2013), the Central Government hereby makes the following rules, namely

1. Short title and commencement.—(1) These rules may be called the Pension Fund Regulatory and Development Authority (Appeal to Securities Appellate Tribunal) Rules, 2014.

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


2. Definitions.—(1) In these rules, unless the context otherwise requires,—
(a) "Act" means the Pension Fund Regulatory and Development Authority Act, 2013 (23 of 2013);
(b) "Adjudicating officer" means an officer appointed under sub- section (1) of Section 30 of the Act;
(c) "Appeal" means an appeal preferred under sub-section (1) of Section 36 of the Act;
(d) "Appellate Tribunal" means the Securities Appellate Tribunal constituted under section 15 K of   the Securities and Exchange Board of India Act,1992 (15 of 1992);
(e) "Form" means the Form appended to these rules;
(f) “Member” means the Member of the Securities Appellate Tribunal appointed under section 15L of the Securities and Exchange Board of India Act, 1992 (15 of 1992);
(g) “party” means a person who prefers an appeal before the Appellate Tribunal and includes Respondent;
(h) “Presiding Officer” means the Presiding Officer of the Securities Appellate Tribunal appointed under section15L of the Securities and Exchange Board of India Act,1992 (15 of 1992;
(i) "Registrar" means the Registrar of an Appellate Tribunal and includes any officer of such Appellate Tribunal to whom the powers and functions of the Registrars may be assigned;
(j) "registry" means the registry of the Appellate Tribunal;
(k) “rules” means the rules made under the Act.

(2) Words and expressions used and not defined in these rules but defined in Pension Fund Regulatory and Development Act, 2013 (23 of 2013) shall have the meanings respectively assigned to them in that Act.

3. Limitation for filing an appeal.—Every appeal shall be filed within a period of forty five days from the date on which a copy of the order against which the appeal is filed, is received by the appellant:  Provided that the Appellate Tribunal may entertain an appeal after the expiry of the said period of forty five days if it is satisfied that there was sufficient cause for not filing it within that period.

4. Form and procedure of appeal.—(1) A memorandum of appeal shall be presented in the Form by any aggrieved person in the registry of the Appellate Tribunal within whose jurisdiction his case falls or shall be sent by registered post addressed to the Registrar.
(2) A memorandum of appeal sent by post shall be deemed to have been presented in the registry on the day it was received in the registry.

5. Sittings of Appellate Tribunal.—(1) The Appellate Tribunal shall hold its sitting either at a place where its office is situated or at such other place falling within its jurisdiction, as it may deem fit.
(2) In the temporary absence of the Presiding Officer, the Central Government may authorise one of the two other Members to preside over the sitting of the Tribunal either at a place where its office is situated or at such other place falling within its jurisdiction, as it may deem fit.

6. Language of Appellate Tribunal.—(1)The proceedings of the Appellate Tribunal shall be conducted in English or Hindi.
(2) No appeal, application, representation, document or other matters contained in any language other than English or Hindi shall be accepted by Appellate Tribunal, unless the same is accompanied by a true copy of translation thereof in English or Hindi.

7. Appeal to be in writing.—(1) Every appeal, application, reply, representation or any document filed before the Appellate Tribunal shall be typewritten, cyclostyled or printed neatly and legibly on one side of good quality paper of foolscap size in double space and separate sheets shall be stitched together and every page shall be consecutively numbered and filed in the manner provided in sub-rule (2).

(2) The appeal under sub-rule (1) shall be presented in five sets in a paper book along with an empty file size envelope bearing full address of the respondent and in case the respondents are more than one, then sufficient number of extra paper books together with empty file size envelope bearing full addresses of each respondent shall be furnished by the appellant.

8. Presentation and scrutiny of memorandum of appeal.—(1) The Registrar shall endorse on every appeal the date on which it is presented under rule 4 or deemed to have been presented under that rule and shall sign endorsement.

(2) If, on scrutiny, the appeal is found to be in order, it shall be duly registered and given a serial number.

(3) If an appeal on scrutiny is found to be defective and the defect noticed is formal in nature, the Registrar may allow the appellant to rectify the same in his presence and if the said defect is not formal in nature, the Registrar may allow the appellant such time to rectify the defect as he may deem fit.

(4) If the appeal has been sent by post and found to be defective, the Registrar may communicate the defects to the appellant and allow the appellant such time to rectify the defect as he may deem fit.

(5) If the appellant fails to rectify the defect within the time allowed in sub-rule (3) or sub-rule (4), the Registrar may by order and for reasons to be recorded in writing, decline to register such memorandum of appeal and communicate the order to the appellant within seven days thereof.

(6) An appeal against the order of the Registrar under sub-rule (5) shall be made within fifteen days of receiving of such order to the Presiding Officer, or in his temporary absence, to the Member authorised under sub-rule (2) of rule 5, whose decision thereon shall be final.

9. Fee.—(1) Every memorandum of appeal shall be accompanied with a fee provided in sub-rule (2) or sub-rule (3) and such fee may be remitted in the form of crossed demand draft drawn on any nationalised bank in favour of "the Registrar, Securities Appellate Tribunal" payable at the station where the registry is located.

(2) The amount of fee payable in respect of appeal against adjudication orders made under the Act shall be as follows:


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