Section 32 of The Unified Pension Scheme: Action in case of Default
Action in case of Default Unified Pension Scheme
32. Action in case of Default.- (1) In case of any act of omission or commission by an intermediary which prima-facie entails violation of the provisions of the Act, or the rules or this regulation or any other regulations or instructions, directions or notifications issued either by the Central Government or the Authority, in relation to the provision of UPS, or is considered to be prejudicial to the interest of subscribers under UPS, such intermediary shall be liable to be proceeded against in terms of the provisions of the Act, these regulations and such other specific regulations applicable to the said intermediary, under which it has been granted registration by the Authority. (2) The provisions of the specific regulations applicable to the said intermediary, dealing with suspension or cancellation of certificate of registration and action in case of default shall apply mutatis mutandis in respect of proceedings referred to in sub-regulation (1). (3) The proceedings under sub-regulation (1) shall be without prejudice to any action that the Authority may initiate under the provisions of the Pension Fund Regulatory and Development Authority (Procedure for inquiry by Adjudicating Officer) Regulations, 2015. (4) Besides the intermediary concerned, any person who is connected with such intermediary and in charge of and responsible for provision of services under UPS, including the principal officer(s) and compliance officer, shall also be liable to be proceeded with. (5) Notwithstanding the provisions of sub-regulation (1) and sub-regulation (2) above, the conduct of any entity involved with the implementation of UPS, which prima-facie is in violation of the provisions of these regulations shall be reported by the Authority, to the Central Government, for taking appropriate action.