Section 44 in The Pension Fund Regulatory and Development Authority (Central Recordkeeping Agency) Regulations, 2015
44. Management by administrator.
- Without prejudice to the powers of the Authority under section 31 of the Act, if at any time the Authority has reason to believe that the central recordkeeping agency is acting in a manner likely to be prejudicial to the interest of subscribers, it may, after giving the central recordkeeping agency an opportunity of being heard, make a report thereon to the Central Government. If the Central Government, after considering the report is of the opinion, that it is necessary or proper to do so, it may appoint an Administrator to manage the affairs of the central recordkeeping agency, as the case may be, under the direction and control of the Authority, in such manner as may be specified by notification.
