Section 6(3) in The Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016
(3)The company shall follow the following procedure while transferring the shares, namely:-(a)The company shall inform, at the latest available address, the shareholder concerned regarding transfer of shares three months before the due date of transfer of shares and also simultaneously publish a notice in the leading newspaper in English and regional language having wide circulation informing the concerned that the names of such shareholders and their folio number or DP ID - Client ID are available on their website duly mentioning the website address.(b)In case, where there is a specific order of Court or Tribunal or statutory Authority restraining any transfer of such shares and payment of dividend or where such shares are pledged or hypothecated under the provisions of the Depositories Act, 1996 or shares already been transferred under sub-rule (1) above, the company shall not transfer such shares to the Fund:Provided that the company shall furnish details of such shares and unpaid dividend to the Authority in Form No. IEPF 3 within thirty days from the end of financial year.(c)For the purposes of effecting the transfer, where the shares are dealt with in a depository-(i)the Company shall inform the depository by way of corporate action, where the shareholders have their accounts for transfer in favour of the Authority.(ii)on receipt of such intimation, the depository shall effect the transfer of shares in favour of DEMAT account of the Authority.(d)For the purposes of effecting the transfer where the shares are held in physical form-(i)[ the Company Secretary or the person authorised by the Board shall make an application, on behalf of the concerned shareholder, to the company, for issue of a new share certificate; [Substituted by Notification No. G.S.R. 1267(E), dated 13.10.2017 (w.e.f. 5.9.2016).](ii)on receipt of the application under clause (a), a new share certificate for each such shareholder shall be issued and it shall be stated on the face of the certificate that "Issued in lieu of share certificate No..... for the purpose of transfer to IEPF" and the same be recorded in the register maintained for the purpose;(iii)particulars of every share certificate shall be in Form No. SH-1 as specified in the Companies (Share Capital and Debentures) Rules, 2014;(iv)after issue of a new share certificate, the company shall inform the depository by way of corporate action to convert the share certificates into DEMAT form and transfer in favour of the Authority.;]
