Rule 314: Prior approval to amend an approved superannuation fund
Rule 314 locks the terms of an approved superannuation fund. Rules 301 to 315 govern approved superannuation funds under Part B of Schedule XI to the Act. No alteration in its rules, constitution, objects or conditions may be made without prior approval of the approving authority.
Official notified Income-tax Rules, 2026Need advice on Rule 314?
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Bare law
Rule 314 - Amendment of rules, etc., of fund
No alteration in the rules, constitution, objects or conditions of an approved fund shall be made without the prior approval of the approving authority.
Rule breakdown
What needs approval
Rules.
Constitution.
Objects.
Conditions.
Key takeaways
Prior approval
Any change needs it.
Wide scope
Rules, constitution, objects or conditions.
Gratuity parallel
Rule 328.
Practical checklist
- Seek approval before adopting amendments.
Avoid
- Do not implement changes pending approval.
FAQs
Can trustees amend fund rules?
Only with prior approval of the approving authority (Rule 314).
Does a change in objects need approval?
Yes.
Is there a gratuity equivalent?
Yes, Rule 328.
Glossary
- Approved fund
- A fund approved under Part B of Schedule XI.
- Alteration
- Any change in rules, constitution, objects or conditions.