(1) On and from the date of suspension or cancellation of the certificate of registration, the pension fund shall-
(a) cease to transact fresh business under the National Pension System or other pension schemes, as the case may be;
50 THE GAZETTE OF INDIA : EXTRAORDINARY [PART III—SEC. 4]
(b) take such action in respect of the assets, records, documents or information that may be in the custody or control of the pension fund, within the time limit and in the manner as may be required under the relevant regulations or as may be directed by the Authority..;
(c) transfer at its own cost the assets, records, documents or information that are in its custody or control to another pension fund in the form and manner as may be directed by the Authority;
(d) the pension fund or sponsor shall at its cost and expense provide all the necessary support in ensuring smooth transfer of all the assets under its management and where required by the National Pension System Trust or the Authority, and make such public announcement or disclosure as may be conducive to subscribers interest, regarding such transfer of assets. It shall also ensure that the transfer of all the relevant documents, record or information is made in accordance with the directions issued by the Authority. Any form of non-support or non-cooperation or obstructions from the pension fund or sponsor shall render the pension fund or its sponsor liable for penalty;
(e) the transfer of such assets shall be undertaken in accordance with the guidelines as may be issued by the Authority;
(f) the sponsor or pension fund shall be subject to the directions of the Authority until all such transfers or actions are completed or until, the certificate of registration remains suspended.