Act Number: 58

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

Year: 2002

Enactment Date: 2002-12-17

Long Title: 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.

Ministry: Ministry of Finance

Department: Department of Financial Services

Section 11: Maintenance of accounts by Administrator.
    (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.
Previous Section Next Section
Scroll to Top