Question

    Which of the following is NOT CORRECT about role of investor Education and Protection Fund Authority?

    i. This fund shall be utilized for refund of unclaimed and unpaid amounts

    ii. These funds can be used for promotion of investors' awareness and protection of the interests of investors

    iii. These funds can also be utilised for digitalisation of the trading platform

    A Only i Correct Answer Incorrect Answer
    B Only i and ii Correct Answer Incorrect Answer
    C Only ii & iii Correct Answer Incorrect Answer
    D Only iii Correct Answer Incorrect Answer
    E All the above are correct Correct Answer Incorrect Answer

    Solution

    Investor Education and Protection Fund Authority has been constituted under the provisions of Companies Act, 2013 for administration of Investor Education and Protection Fund (IEPF). This fund shall be utilized for refund of unclaimed and unpaid amounts, promotion of investors' awareness and protection of the interests of investors etc. in accordance with provisions of section 125(3) of the Companies Act, 2013.

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