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Section 10: Submission of report by adjudicating officer

Pension Fund Regulatory and Development Authority (Procedure for inquiry by Adjudicating Officer) Regulations, 2015Central Regulations · 2013

(1) The adjudicating officer shall after hearing the person and the presenting officeror upon examining any person at his discretion or after considering any expert opinion on the subjectmatter, if so required, and upon consideration of the documents and evidences submitted by the parties, submit his inquiry report to the designated member together with his recommendations on imposition of the penalty on the delinquent person in accordance with the provisions of section 30 of the Act.

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(2) While recommending the quantum of penalty under section 28 of the Act, the adjudicating officer shall have due regard to the following factors, namely:-

(a) the amount of disproportionate gain or unfair advantage, wherever quantifiable, made as a result of the default;

(b) the amount of loss caused to a subscriber or group of subscribers; and

(c) the repetitive nature of any default.

(3) Every inquiry report of the adjudicating officer along with the recommendation made under sub-regulation (1) shall specify the provisions of the Act in respect of which default has taken place and shall contain brief reasons for such recommendation.

(4) Every inquiry report and recommendation shall be dated and signed by the adjudicating officer.

(5) The report alongwith the recommendation of imposition of penalty shall be submitted to the designated member within twenty-one days of the conclusion of the final hearing by the adjudicating officer.

(6) The adjudicating officer shall hold the inquiry proceedings expeditiously and shall conclude the proceedings before him preferably within a period of ninety days from the initiation of inquiry proceedings excepting where designated member has directed to submit a supplementary report.

Where this provision sits

ActPension Fund Regulatory and Development Authority (Procedure for inquiry by Adjudicating Officer) Regulations, 2015
Section10
Marginal noteSubmission of report by adjudicating officer
JurisdictionCentral
StatusIn force as published by the source

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