Section 17

Shares, bonds, debentures and units to be deemed to be approved securities.

The Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002

  • Act 58 of 2002
  • Ministry of Finance
  • Department of Financial Services
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.

All sections
    Notwithstanding anything contained in any other law for the time being in force, the shares, bonds, debentures and units of the specified undertaking shall be deemed to be approved securities for the purposes of the Indian Trusts Act, 1882 (2 of 1882), the Insurance Act, 1938 (4 of 1938) 1***.

Notes

1. The words and figures "and the Banking Regulation Act, 1949 (10 of 1949)" omitted by Act 4 of 2013, the Schedule and s. 17

Source: India Code (Legislative Department, Govt. of India). Check the official Gazette before relying on it in court. Not legal advice. Free legal aid: 15100 (NALSA) · Know your rights

Scroll to Top