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Section 29: Cost and Interest

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

(1) The Ombudsman or the designated member of the Authority, as the case may be, shall be entitled to award reasonable compensation along with interest including future interest till date of satisfaction of the award at a rate which may not exceed one percent per mensem.

(2) The Ombudsman in the case of an award, or the designated member of the Authority in the case of order passed in application for revision of the award, as the case may be, may determine the cost of the proceedings in the award and include the same in the award or as the case may be, in the order. Such cost may be payable to the party concerned or may be directed to be credited to the Subscriber Education and Protection Fund.

(3) The Ombudsman or the designated member of the Authority may impose cost on the complainant for filing complaint or any petition for revision, which is frivolous.

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CHAPTER V IMPLEMENTATION OF THE AWARD

Where this provision sits

ActPension Fund Regulatory and Development Authority (Redressal of Subscriber Grievance) Regulations, 2015
Section29
Marginal noteCost and Interest
JurisdictionCentral
StatusIn force as published by the source

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