law: Companies Act, 2013 
  125.
  
    Investor 
  
  Education and Protection Fund.
  1.      The Central
  
  Government shall establish a Fund to be called the Investor Education and
  
  Protection Fund (herein referred to as the Fund).
  2.      There shall be
  
  credited to the FundŚ
  a.     
  
    the
  
  amount given by the Central Government by way of grants after due appropriation
  
  made by Parliament by law in this behalf for being utilised for the purposes of
  
  the Fund;
  b.    
  
    donations
  
  given to the Fund by the Central Government, State Governments, companies or
  
  any other institution for the purposes of the Fund;
  c.     
  
    the
  
  amount in the Unpaid Dividend Account of companies transferred to the Fund
  
  under sub-section (5 ) of section 124;
  d.    
  
    the
  
  amount in the general revenue account of the Central Government which had been
  
  transferred to that account under sub-section (5 ) of section 205A of the
  
  Companies Act, 1956, as it stood immediately before the commencement of the
  
  Companies (Amendment) Act, 1999, and remaining unpaid or unclaimed on the
  
  commencement of this Act;
  e.     
  
    the
  
  amount lying in the Investor Education and Protection Fund under section 205C
  
  of the Companies Act, 1956;
  f.     
  
    the
  
  interest or other income received out of investments made from the Fund;
  g.    
  
    the
  
  amount received under sub-section (4 ) of section 38;
  h.     
  
    the
  
  application money received by companies for allotment of any securities and due
  
  for refund;
  i.      
  
    matured
  
  deposits with companies other than banking companies;
  j.      
  
    matured
  
  debentures with companies;
  k.     
  
    interest
  
  accrued on the amounts referred to in clauses (h ) to (j );
  l.      
  
    sale
  
  proceeds of fractional shares arising out of issuance of bonus shares, merger
  
  and amalgamation for seven or more years;
  m.   
  
    redemption
  
  amount of preference shares remaining unpaid or unclaimed for seven or more
  
  years; and
  n.     
  
    such
  
  other amount as may be prescribed:
  Provided
  
  that no such amount referred to in clauses (h ) to (j ) shall form
  
  part of the Fund unless such amount has remained unclaimed and unpaid for a
  
  period of seven years from the date it became due for payment.
  1.     
  2.     
  3.      The Fund shall be
  
  utilised forŚ
  a.     
  
    the
  
  refund in respect of unclaimed dividends, matured deposits, matured debentures,
  
  the application money due for refund and interest thereon;
  b.    
  
    promotion
  
  of investorsÆ education, awareness and protection;
  c.     
  
    distribution
  
  of any disgorged amount among eligible and identifiable applicants for shares
  
  or debentures, shareholders, debenture-holders or depositors who have suffered
  
  losses due to wrong actions by any person, in accordance with the orders made
  
  by the Court which had ordered disgorgement;
  d.    
  
    reimbursement
  
  of legal expenses incurred in pursuing class action suits under sections 37 and
  
  245 by members, debenture-holders or depositors as may be sanctioned by the
  
  Tribunal; and
  e.     
  
    any
  
  other purpose incidental thereto, in accordance with such rules as may be
  
  prescribed:
  Provided
  
  that the person whose amounts referred to in clauses (a ) to (d )
  
  of sub-section (2 ) of section 205C transferred to Investor Education and
  
  Protection Fund, after the expiry of the period of seven years as per
  
  provisions of the Companies Act, 1956, shall be entitled to get refund out of
  
  the Fund in respect of such claims in accordance with rules made under this
  
  section.
  Explanation.Ś The disgorged amount
  
  refers to the amount received through disgorgement or disposal of securities.
  1.     
  2.     
  3.     
  4.      Any person claiming
  
  to be entitled to the amount referred in sub-section (2 ) may apply to
  
  the authority constituted under sub-section (5 ) for the payment of the
  
  money claimed.
  5.      The Central
  
  Government shall constitute, by notification, an authority for administration
  
  of the Fund consisting of a chairperson and such other members, not exceeding
  
  seven and a chief executive officer, as the Central Government may appoint.
  6.      The manner of
  
  administration of the Fund, appointment of chairperson, members and chief
  
  executive officer, holding of meetings of the authority shall be in accordance
  
  with such rules as may be prescribed.
  7.      The Central
  
  Government may provide to the authority such offices, officers, employees and
  
  other resources in accordance with such rules as may be prescribed.
  8.      The authority shall
  
  administer the Fund and maintain separate accounts and other relevant records
  
  in relation to the Fund in such form as may be prescribed after consultation
  
  with the Comptroller and Auditor-General of India.
  9.      It shall be competent
  
  for the authority constituted under sub-section (5 ) to spend money out
  
  of the Fund for carrying out the objects specified in sub-section (3 ).
  10.   The accounts of the
  
  Fund shall be audited by the Comptroller and Auditor-General of India at such
  
  intervals as may be specified by him and such audited accounts together with
  
  the audit report thereon shall be forwarded annually by the authority to the
  
  Central Government.
  11.   The authority shall
  
  prepare in such form and at such time for each financial year as may be
  
  prescribed its annual report giving a full account of its activities during the
  
  financial year and forward a copy thereof to the Central Government and the
  
  Central Government shall cause the annual report and the audit report given by
  
  the Comptroller and Auditor-General of India to be laid before each House of
  
  Parliament.