Investor Education and Protection Fund set up

THE Investor Education and Protection Fund was made effective from October 1. The fund was set up under the amended provisions of the Companies Act. The following sums shall be credited to the fund and form its base:

* Unpaid dividend.

* Application money received by companies for allotment of securities due for refund.

* Unpaid matured deposits and unpaid matured debentures that remain unpaid for seven years from the date on which they become due.

* Interest accrued on unpaid dividend, and interest on unpaid application money received for allotment of securities and due for refund.

* Interest on unpaid matured debentures.

-- BL Research Bureau