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Section 28: Finality of award and circumstances of revision

Pension Fund Regulatory and Development Authority (Redressal of Subscriber Grievance) Regulations, 2015Central Regulations · 2013

(1) Subject to the provisions of sub-regulations (3) and (4), an award shall be final and binding on the parties and persons claiming under them respectively.

(2) Any party aggrieved by the award passed by the Ombudsman may within thirty days from the receipt of the award under regulation 24 or corrected award under regulation 25, file an application for revision before the Authority setting out the grounds for revision of the award:

Provided that the designated member of the Authority may entertain any revision beyond the specified time limit for filing of the same, for sufficient cause or reasons thereof, provided by the party seeking such revision.

(3) There shall be no revision against the order passed by the designated member of the Authority, under subregulation (3) of regulation 25.

(4) Subject to sub-regulation (3) an award may be revised by the designated member of the Authority only if –

(a) there is substantial mis-carriage of justice; or

(b) there is an error apparent on the face of the award.

(5) Where an application for revision of the award under sub-regulation (2) is filed by a party from whom the amount mentioned in the award is to be paid to the other party in terms of the award, such application shall not be entertained by the designated member of the Authority, unless the party filing the revision has deposited with the Authority, seventy-five per cent. of the amount mentioned in the award:

Provided that the designated member of the Authority, may, for reasons to be recorded in writing, waive or reduce the amount to be deposited under this sub-regulation.

(6) The designated member of the Authority may revise the award and pass such order as it may deem appropriate.

The designated member of the Authority while hearing or deciding the revision application may in addition, pass such other directions in writing, as it deems fit in accordance with the provisions of the Act.

(7) The designated member of the Authority shall endeavour to dispose of the matter within a period of sixty days of the filing of the application for revision.

(8) The party so directed shall implement the award within thirty days of receipt of the order of the Authority on revision or within such period as may be specified by the designated member of the Authority in the order disposing off the application for revision.

(9) The Authority may determine its own procedure consistent with principles of natural justice in the matter of disposing of application for revision and may dismiss such application in limine if it does not satisfy any of the grounds specified in sub-regulation (3).

Where this provision sits

ActPension Fund Regulatory and Development Authority (Redressal of Subscriber Grievance) Regulations, 2015
Section28
Marginal noteFinality of award and circumstances of revision
JurisdictionCentral
StatusIn force as published by the source

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