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 24: Power to remove difficulties.
    (1) If any difficulty arises in giving effect to the provisions of this Act, the Central Government may, by order published in the Official Gazette, make such provisions, not in consistent with the provisions of this Act as appear to it to be necessary or expedient for removing the difficulty:
     Provided that no order shall be made under this section after the expiry of two years from the date of commencement of this Act.
     (2) Every order made under this section shall, as soon as may be after it is made, be laid before each House of Parliament.
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