Draft Central Motor Vehicles (Motor Vehicle Accident Fund) Rules, 2021
The Ministry of Road Transport and Highways (MORTH) on August 05, 2021 has issued the Draft Central Motor Vehicles (Motor Vehicle Accident Fund) Rules, 2021. The following provisions have been made: The Motor Vehicle Accident Fund shall be constituted in accordance with sub-section (1) of Section 164B of the Act, and shall comprise of the following three accounts: Account for Insured Vehicles; Account for Uninsured vehicles/Hit and Run Accident; Hit and Run Compensation Fund. A public charitable Trust shall be duly constituted and registered in accordance with the applicable laws in India, and the Trustees of the Trust shall hold the Motor Vehicle Accident Fund (Trust Corpus), which will comprise of the initial corpus and further contributions, as per Rule. The Trust shall be governed by a Trust Deed formulated in accordance with these rules, and the Trust Deed shall be in addition to and not in derogation of these rules. The Central Government may undertake directly or through its authorized representative(s), inspection and audit of the books, accounts, records and documents of the Trust. In case of hit and run motor accidents, the compensation under Section 161 of the Act shall be disbursed from the Hit and Run Compensation Fund in accordance with the Compensation to victims of Hit and Run Motor Accidents Scheme, 2021.