Section 11
Maintenance of accounts by Administrator.
The Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002
About this Act
An Act to provide for the transfer and vesting of the undertaking (excluding the specified undertaking) of the Unit Trust of India to the specified company to be formed and registered under the Companies Act, 1956, and the transfer and vesting of the specified undertaking of the Unit Trust of India in the Administrator and for matters connected therewith or incidental thereto and also to repeal the Unit Trust of India Act, 1963.
(1) The Administrator shall maintain separate
accounts of each of the specified undertaking asset possession whereof has been taken by him, and shall
cause to be made therein entries of all receipts and expenditure in respect thereof.
(2) The separate accounts under sub-section (1) shall be maintained in such form and in such manner as may be specified by the Central Government.
(3) The Central Government shall cause the accounts maintained under this section to be inspected and audited at such intervals and by such persons as may be specified by it.
(2) The separate accounts under sub-section (1) shall be maintained in such form and in such manner as may be specified by the Central Government.
(3) The Central Government shall cause the accounts maintained under this section to be inspected and audited at such intervals and by such persons as may be specified by it.