Section List

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 NumberTitleActions
1 Short title and commencement.
2 Definitions.
3 Transfer of initial capital.
4 Undertaking of Trust to vest in specified company and specified undertaking of Trust to vest in Administrator.
5 General effect of vesting of undertaking or specified undertaking in specified company or Administrator.
6 Provisions in respect of officers and other employees of Trust.
7 Appointment of Administrator to manage specified undertaking.
8 Administrator to vacate office.
9 Board of Advisers.
10 Powers and functions of Administrator.
11 Maintenance of accounts by Administrator.
12 Concession, etc., to be deemed to have been granted to specified undertaking.
13 Tax exemption or benefit to continue to have effect.
14 Exemption from stamp duty.
15 Guarantee to be operative.
16 Protection of action taken in good faith.
17 Shares, bonds, debentures and units to be deemed to be approved securities.
18 Substitution in every Act, rule, regulation or notification by specified company or Administrator in place of Trust.
19 Power of Central Government to alter Schedules I and II.
20 Power of Central Government to make Scheme.
21 Repeal and saving of Act 52 of 1963.
22 Act to have overriding effect.
23 Application of other laws not barred.
24 Power to remove difficulties.
25 Repeal and saving.
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