Senior Citizens' Welfare Fund Rules, 2016 amended

Dated 11th April, 2017 | Copy of | Notification Sl.56 |

In exercise of the power conferred by Section 128 of the Finance Act, 2015 (20 of 2015), the Government hereby makes the following rules to amend the Senior Citizens’ Welfare Fund Rules, 2016, namely:-

1. (1) These rules may be called the ‘Senior Citizens’ Welfare Fund (Amendment) Rules, 2017.

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

2. In the Senior Citizens’ Welfare Fund Rules, 2016, in rule 3, in sub–rule (3), after clause (c), the following clauses shall be inserted, namely:-

“(d) Accounts maintained by banking companies, co-operative banks, multi-state co-operative banks, State Banks of India and its associate banks, subsidiary banks, corresponding banks, and regional rural banks;

(e) Dividend Accounts, deposits and debentures of companies defined under the Companies Act, 2013 (18 of 2013);

(f) Life and non-life insurance schemes or policies maintained by insurance companies;

(g) Accounts of Coal Mines Provident Fund established under the Coal Mines Provident Fund and Miscellaneous Provisions Act, 1948 (46 of 1948).”

Sd/-
(Prashant Goyal)
Jt. Secy.

G.S.R.380(E)
F.No.13/20/2014-NS.II
Issued by:
Ministry of Finance
(Department of Economic Affairs)
New Delhi

Note: The principal rules were published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-section (i) vide
notification number G.S.R.322(E), dated 18th March, 2016 and subsequently amended vide number G.S.R.981(E),
dated 17th October, 2016.