Section 23 in The Pension Fund Regulatory and Development Authority (Central Recordkeeping Agency) Regulations, 2015
23. Exit management Plan.
- The central recordkeeping agency shall prepare and provide the Authority an exit management plan covering in detail the aspects specified in these regulations. Such exit management plan for the first time shall be provided to the Authority on or before the date specified by the Authority and thereafter, for every completed twelve months following the specified date. The same may be updated and provided to the Authority within fifteen days of the expiry of the preceding twelve months. The cost of preparation of such exit management plan shall be borne by the central recordkeeping agency. The exit management plan shall contain the details thereof including the following: -(a)a detailed program of the transfer process that shall be used in conjunction with a replacement agency and the National Pension System Trust, including details of the means to be used to ensure continuing provision of the services throughout the transfer process or until the cessation of the services and of the management structure during the transfer;(b)modalities for communication with the central recordkeeping agency's sub-contractors, staff, suppliers, service providers and any related third party as are necessary to avoid any detrimental impact on the project's operations as a result of the transfer;(c)provisions for contingent support to the replacement agency for a reasonable period after the transfer.
