law: The Pension Fund Regulatory and Development Authority Act, 2013
  Chapter V Duties,
  
  Powers and Functions of Authority
  14.
  
     Duties,
  
  powers and functions of Authority.
  1.  
  
    Subject
  
  to the provisions of this Act and any other law for the time being in force,
  
  the Authority shall have the duty, to regulate, promote and ensure orderly
  
  growth of the National Pension System and pension schemes to which this Act
  
  applies and to protect the interests of subscribers of such System and schemes.
  2.  Without
  
  prejudice to the generality of the provisions contained in sub-section (1), the
  
  powers and functions of the Authority shall include-
  a.   regulating the
  
  National Pension System and the pension schemes to which this Act applies;
  b.   approving the
  
  schemes, the terms and conditions thereof and laying down norms for the
  
  management of the corpus of the pension funds, including investment guidelines
  
  under such schemes;
  c.   registering and
  
  regulating intermediaries;
  d.   issuing to an
  
  intermediary, on application, a certificate of registration and renewing,
  
  modifying, withdrawing, suspending or cancelling such registration;
  e.   protecting the
  
  interests of subscribers by-
   
  
   i.  
  
    ensuring
  
  safety of the contribution of subscribers to various schemes of pension funds
  
  to which this Act applies;
   
  
   ii.  
  
    ensuring
  
  that the intermediation and other operational costs under the National Pension
  
  System are economical and reasonable;
  a.  
  
  
  b.  
  
  
  c.  
  
  
  d.  
  
  
  e.  
  
  
  f.   establishing
  
  mechanism for redressal of grievances of subscribers to be determined by
  
  regulations;
  g.   promoting
  
  professional organisations connected with the pension system;
  h.   adjudication of
  
  disputes between intermediaries and between intermediaries and subscribers;
  i.   collecting data and
  
  requiring the intermediaries to collect such data and undertaking and
  
  commissioning studies, research and projects;
  j.   undertaking steps for
  
  educating subscribers and the general public on issues relating to pension,
  
  retirement savings and related issues and training of intermediaries;
  k.   standardising
  
  dissemination of information about performance of pension funds and performance
  
  benchmarks;
  l.   regulating the
  
  regulated assets;
  m.   levying fees or other
  
  charges for carrying out the purposes of this Act;
  n.   specifying by
  
  regulations the form and manner in which books of account shall be maintained
  
  and statement of accounts shall be rendered by intermediaries;
  o.   calling for
  
  information from, undertaking inspection of, conducting inquiries and
  
  investigations including audit of, intermediaries and other entities or
  
  organizations connected with pension funds;
  p.   exercising such other
  
  powers and functions as may be prescribed.
  1.  
  
  
  2.  
  
  
  3.  Notwithstanding
  
  anything contained in any other law for the time being in force, while
  
  exercising the powers under clause (o) of sub-section (2), the Authority shall
  
  have the same powers as are vested in a civil court under the Code of Civil
  
  Procedure, 1908 while trying a suit, in respect of the following matters,
  
  namely:-
   
  
   i.  
  
    the
  
  discovery and production of books of account and other documents, at such place
  
  and at such time as may be specified by the Authority;
  summoning
  
  and enforcing the attendance of persons and examining them on oath;
   
  
   iii.  
  
    inspection
  
  of any book, register and other document of any person or intermediary referred
  
  to in section 26, at any place;
   
  
   iv.  
  
    issuing
  
  commissions for the examination of witnesses or documents;
   
  
   v.  
  
    any
  
  other matter which may be prescribed.
  1.  
  
  
  2.  
  
  
  3.  
  
  
  4.  
  
    Without
  
  prejudice to the provisions contained in sub-sections (1), (2) and (3) and
  
  section 16, the Authority may, by order, for reasons to be recorded in writing,
  
  in the interest of subscribers, take any of the following measures, pending
  
  investigation or inquiry, namely:-
   
  
   i.  
  
    restrain
  
  persons from participating in any scheme;
  restrain
  
  any office bearer of an intermediary from acting as such;
   
  
   iii.  
  
    impound
  
  and retain the proceeds under the scheme in respect of any activity which is
  
  under investigation;
   
  
   iv.  
  
    attach,
  
  after passing an order, on an application made for approval, by the Judicial
  
  Magistrate of first class having jurisdiction, for a period not exceeding one
  
  month, one or more bank account or accounts of any intermediary or any person
  
  associated with the scheme in any manner involved in violation of any of the
  
  provisions of this Act or the rules or the regulations made there under:
  Provided that only
  
  the bank account or accounts or any transaction entered therein, relating to
  
  the proceeds actually involved in the violation of any of the provisions of
  
  this Act or the rules or the regulations made there under shall be allowed to
  
  be attached;
   
  
   i.  
  
  
   
  
   ii.  
  
  
   
  
   iii.  
  
  
   
  
   iv.  
  
  
   
  
   i.  
  
  
   
  
   ii.  
  
  
   
  
   iii.  
  
  
   
  
   iv.  
  
  
   
  
   v.  
  
    direct
  
  any intermediary or any person associated with the scheme in any manner not to
  
  dispose of or alienate an asset forming part of any activity which is under
  
  investigation:
  Provided that the
  
  Authority shall, either before or after, passing such orders, under this
  
  section, give to such intermediaries or persons concerned an opportunity of
  
  being heard.