Section 65A in The Coal Mines Provident Fund Scheme
65A. [ Advance from the Fund for the purchase of shares of Consumers' Cooperative Societies and Co-operative Credit Societies. [Para 65A added vide G.S.R. 1678 dated 29.11.1962 and reconstituted vide Government of India, Ministry of Labour, Notification No. R. 1l011(6)/75-PF (I) dated 28.5.76.]
(1)A member may authorise the Commissioner as may be authorised by him in this behalf, in such manner and in such form as may be prescribed by Commissioner to remit out of the amount standing to his credit in the Fund as his own contribution with interest thereon, to a Consumers' Co-operative Society or a Co-operative Credit Society, of which he intends to become a member for the purchase of shares in such societies, two sums :(i)not exceeding, in total, fifty per cent of his own contribution with interest thereon standing to his credit in the Fund as at the end of the last completed period of currency, or(ii)a sum of rupees one hundred for the purchase of shares in a Consumers' Co-operative Society and another sum of rupees one hundred for the purchase of shares in a Co-operative Credit Society, whichever of the amount specified in clause (i) or, as the case may be, in clause (ii) is less;Provided that no such remittance shall be made unless, the Commissioner is satisfied that such Consumers' Co-operative Society or, as the case may be, the Cooperative Credit Society aims at a minimum membership of two hundred and fifty persons.(2)The Commissioner, or where so authorised by the Commissioner any officer subordinate to him on being satisfied that the authorisation has been made in the prescribed manner and the sum authorised is within the limits specified in sub-paragraph (1) shall remit the said sum to the Consumers' Co-operative Society or the Co-operative Credit Society concerned and such remittance shall give a full discharge of the liability of Fund towards the member to the extent of the amount so remitted.(3)The remittance of any amount under this paragraph to any Consumers' Co-operative Society or Co-operative Credit Society shall be made by crossed account payee cheque only.(4)The amount remitted to a Consumers' Co-operative Society or as the case may be, to a Co-operative Credit Society under this paragraph shall be a non-recoverable advance.(5)Not more than one advance in respect of a Consumers' Co-operative Society and another advance in respect of a Co-operative Credit Society shall be allowed to a member under this paragraph.(6)Any Consumers' Co-operative Society or Co-operative Credit Society to which an amount is remitted under this paragraph shall intimate to the Commissioner-(i)such particulars of the shares allotted to the members on whose behalf advances are made from the Fund as may be called for by the Commissioner ;(ii)such details of sale, transfer and other transactions pertaining to the shares allotted to the members out of advances from the Fund taking place subsequent to their initial allotment to the members of the Fund as may be called by the Commissioner.(7)In this paragraph the expressions 'Consumers' Co-operative Society' and 'Co-operative Credit Society' mean respectively a Consumers' Co-operative Society or a Co-operative Credit Society registered as such or deemed to be registered under the Co-operative Societies Act, 1912(2) of 1912 or under any other law for the time being in force in any State relating to Co-operative Societies and includes registered or deemed to be registered multipurpose co-operative societies running consumers' stores or providing credit facilities in addition to other function.] [Para 65 omitted by G.S.R. 1121 dated 13.8.62.]["65B. Advance from the Fund for the purchase of a dwelling house/flat or for the construction of a dwelling house including the acquisition of a suitable site for the purpose. [Para 65B substituted vice G.S.R. No. 567 dated 9.6.84.](1)The Commissioner, or where so authorised by the Commissioner, any officer subordinate to him, may, on application from a member in such form as may be prescribed by the Commissioner and subject to the conditions prescribed in this paragraph, sanction from the amount standing to the credit of the member in the Fund, a non-refundable advance-(a)For purchasing a dwelling house or a flat including a flat in a building owned jointly with others (out-right or on hire purchase basis) or for constructing dwelling house including the acquisition of a suitable site for the purpose from the Central Government, the State Government, a Cooperative Society, an institution, a trust, a local body or a Housing Finance Corporation (hereinafter referred to as the agency or agencies, as the case may be) ;OR(b)for purchasing a dwelling site for the purpose of construction of a dwelling house or a ready-built house or a flat from any individual provided the said house or flat to be purchased is new and unlived one;OR(c)for the construction of a dwelling house on a site owned by the member or the spouse of the member or jointly by the member and the spouse, or for completing or continuing the construction of a dwelling house already commenced by the member or the spouse, on such site ;OR(d)for making addition or alteration to an existing house owned by the member or the spouse of the member or jointly by the member and the spouse.Explanation: (1) In this paragraph, the explanation, 'Co-operative Society' means a society registered or deemed to be registered or under the Co-operative Societies Act, 1912 (2 of 1912) or under any other law for the time being in force in any State relating to Co-operative Societies.Explanation: (2) In this paragraph, the fact' of a new and unlived house or fiat shall be determined with reference to the certificates relating to the member and date of approval of the building plan, the date of commencement and completion of the house or the fiat, and the tax bills and receipts issued by the appropriate authorities, and wherever necessary, by neighbourhood enquires.(2)The amount of advance shall not exceed the member's total emoluments for twenty four months or the member's own share of contribution together with 75 % employer's share of contribution with interest thereon standing to his credit on the date of authorisation 'of payment or the actual cost towards the acquisition of the dwelling site together with the cost of construction thereon or the purchase of the dwelling house or fiat or the construction of the dwelling house, whichever is the least.Explanation: The actual cost towards the acquisition of the dwelling site or the purchase of dwelling house or fiat shall include charges payable towards registration of such site, house or fiat.(3)(a)No advance under this paragraph shall be granted unless-(i)the member has completed twelve years' membership of the Fund;(ii)the member's own share of contribution with interest thereon standing to his credit in the Fund is not less than two thousand rupees ;(iii)the dwelling site or the dwelling house or fiat or the house under construction or addition or alteration is free from encumberances.Provided that where a dwelling site or a dwelling house or fiat is mortgaged to any of the agencies referred to in clause (a) of sub-paragraph (1) solely for having obtained funds for the purchase of a dwelling house or a fiat or for the construction of a dwelling house including the acquisition of a suitable site for the purpose, such a dwelling site or a dwelling house or fiat, as the case may be, shall not be deemed to be an encumbered property ;Provided further that a land acquired on a perpetual lease or on lease for a period of not less than 30 years for constructing a dwelling house or a fiat or a house or a fiat built on such a leased land, shall also not be deemed to be an encumbered propertyProvided also that where the site of the dwelling house or flat is held in the name of any agency referred to in clause (a) of sub-paragraph (1) and the allottee is precluded from transferring or otherwise disposing of the house or flat without the prior approval of such agency, the mere fact that the allottee does not have absolute right or ownership of the house or flat and the site is held in the name of the agency, shall not be a bar to the giving of an advance under clause (a) of sub-paragraph (I), if the other conditions mentioned in tl1is paragraph are satisfied.(b)No advance shall be granted for purchasing a share in a joint property or for constructing a house on a site owned jointly except on a site owned jointly with the spouse.(4)Subject to the limitation prescribed in sub-paragraph (2)-(a)Where the advance is for the purchase of a dwelling house or a flat or a dwelling site from an agency referred to in clause (a) of sub-paragraph (1), the payment of advance shall not be made to the member but shall be made direct to the agency in one or more instalments, as may be authorised by the member;(b)Where the advance is for the construction of a dwelling house, it shall be sanctioned in two equal instalments, the first on application and the second when the construction reaches plinth level ;(c)Where the advance is for the acquisition of a dwelling site for the purpose of construction of a dwelling house thereon from any individual or any agency the amount shall be paid in not less than two equal instalments, the first instalment at the time of acquisition of the dwelling site and the remaining at his request at time of construction of a "dwelling house on such d welling site ;(d)When the advance is for making addition or alterations to an existing house, the advance shall be sanctioned in two equal instalments, first at the time of application and second after commencement of the additions or alterations.(5)Where an advance is sanctioned for the construction of a dwelling house, the construction shall commence within six months of the withdrawal of the first instalment and shall be completed within twelve months of the withdrawal of the final instalment. Where the advance is sanctioned for the purchase of a dwelling house or a flat or for the acquisition of a dwelling site, the purchase or acquisition as the case may be, shall be completed within six months of the withdrawal of the amount ;Provided that this provision shall not be applicable in case of purchase of a dwelling house or flat on hire purchase basis and in cases where a dwelling site is to be acquIred or houses are to be constructed by a Co-operative Society on behalf of its members with a view to their allotment to the member's.(6)Except in cases specified in sub-paragraph (7), no further advance shall be admissible to a member under this paragraph.(7)An additional advance upto six months' total emoluments or the member's own share of contributions with interest thereon in the amount standing to his credit in the Fund, whichever is less, may be granted to members for whom advances had been granted under clause (a) or (b) or (c) of sub-paragraph (1), once and in one instalment only for additions, substantial alterations or improvement& necessary to the dwelling house owned by the member or by the spouse.Provided that the advance shall be admissible only after a period of five years from the date of completion of the dwelling house.(7A)[ A further advance equivalent to the amount of difference between the amount of advance admissible to a member on 9th June, 1984 and prior to that date, may be granted to such member who had drawn advance under this paragraph, as it stood before 9.6.1984. at any time during six years immediately preceding the aforementioned date, if, -(i)he had availed of the earlier advance for the purchase of a dwelling site and proposes to construct a dwelling house on the land so purchased; or(ii)he had availed of the earlier advance for making initial payment towards allotment/purchase of a house/flat from any agency as referred to in clause(a) of sub-paragraph (I), and proposes to avail of an advance for completing the transaction to get the sole ownership of the house/flat so purchased or allotted; or(iii)he had availed of the earlier advance for construction of a house but could not complete the construction in time due to lack of funds.](8)The member shall produce the title deed and such other documents as may be required for inspection which shall be returned to the member after grant of advance.(9)(a)If the advance granted under this paragraph exceeds the amount actually spent for the purpose for which it was sanctioned, the excess amount shall be refunded by the member to the Fund in one lumpsum within thirty days of the finalisation of the purchase, or the completion of the construction of, or necessary additions, alterations or improvements to a dwelling house, as the case may be. The amount so refunded shall be credited to the employer's share of contributions in the member's account in the Fund to the extent of advance granted out of the said share and the balance, if any, shall be credited to the member's share of contributions in his account.(b)In the event of the member not having been allotted a dwelling site or a dwelling house or a flat, or in the" event of the cancellation of an allotment made to the member and in the event of refund of the amount by the agency referred to in clause (a) of sub-paragraph (1) or in the event of the member not being able to acquire the dwelling site or to purchase construct the dwelling house or a flat from any individual or to construct the dwelling house, the member shall be liable to refund to the fund in one lumpsum and in such manner as may be specified by the Commissioner, for where so authorised by the Commissioner any officer subordinate to him the amount of advance remitted under this paragraph to him or, as the case may be, to the agency referred to in clause(a) of sub-paragraph(1). The amount so refunded shall be credited to the. employer's share of contributions in the member's account in the Fund to the extent of advance granted out of the said share and the balance if any, shall be credited to the member's own share of contributions in his account.(10)If the Commissioner, or where so authorised by the Commissioner any officer subordinate to him is satisfied that the advance granted under this paragraph has been utilised for a purpose other than that for which it was granted or that the member refused to accept an allotment or to acquire a dwelling site or that the conditions of advances have not been fulfilled or that there is reasonable apprehension that they will not be fulfilled wholly or partly, or that the excess amount will not be refunded in terms of clause(a) of sub-paragraph (9), or that the amount remitted back to the member by any agency referred to in clause(a) of sub-paragraph (1), will not be refunded in terms of clause(b) of sub-paragraph (9), the Commissioner, or where so authorised by the Commissioner, any Officer subordinate to him, shall forthwith take steps to recover the amount due with penal interest thereon at the rate of two percent per annum from the wages of the member in such number of instalments as the Commissioner, or where so authorised by the Commissioner, any officer subordinate to him may determine, for the purpose of such recovery, the Commissioner, or where so authorised by the Commissioner, any officer subordinate to him may direct the employer to deduct such instalment from the wages of the member and on receipt of such direction, the employer shall deduct accordingly. The amount so deducted, shall be remitted by the employer to the Fund within such time and in such manner as may be specified in the direction. The amount so refunded, excluding the penal interest, shall be credited to the employer's share of contributions in the member's account in the Fund to the extent of advance granted out of the said share and the balance, if any, shall be credited to the member's own share of contributions in his account. The amount of penal interest shall, however, be credited to the Interest Suspense Account ;(11)Where any advance granted under this paragraph has been misused by the member, no further advance shall be granted to him under this paragraph within a period of three years from the date of grant of the said advance or till the full recovery of the amount of the said advance, with penal interest thereon, whichever is later.]
