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Start Free TrialUnit Trust of India (Transfer of Undertaking and Repeal) Act,2002 Complete Act
Title: Unit Trust of India (Transfer of Undertaking and Repeal) Act,2002
State: Central
Year: 2002
..... Chapter 5 Section12 - Concession, etc. to be deemed to have been granted to specified undertaking Section13 - Tax exemption or benefit to continue to have effect Section14 - Exemption from stamp duty Section15 - Guarantee to be operative Section16 - Protection of action taken in good faith Section17 - Shares, bonds, debentures and units to be deemed to be approved securities Section18 - Substitution in every Act, rule, regulation or notification by specified company or Administrator in place of Trust Section19 - Power of Central Government to alter Schedules. I and II Section20 - Power of Central Government to make scheme Section21 - Repeal and saving of Act 52 of 1963 Section22 - Act to have overriding effect Section23 - Application of other laws not barred Section24 - Power to remove difficulties Section25 - Repeal and saving Schedule1 - SCHEDULE I Schedule2 - SCHEDULE II
List Judgments citing this sectionUnit Trust of India (Transfer of Undertaking and Repeal) Act,2002 Preamble 1
Title: The Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002
State: Central
Year: 2002
THE UNIT TRUST OF INDIA (TRANSFER OF UNDERTAKING AND REPEAL) ACT, 2002 [Act, No. 58 of 2002 ] [ 17 th December, 2002 ] PREAMBLE 1[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 . B e it enacted by Parliament in the Fifty-third Year of the Republic of India as follows :-- ___________________________ 1 .Received the assent of the President on 17th December, 2002, published in the Gazette of India, Extraordinary, Pt. II, section 1, dated 18th December, 2002.
View Complete Act List Judgments citing this sectionUnit Trust of India (Transfer of Undertaking and Repeal) Act,2002 Section 17
Title: Shares, Bonds, Debentures and Units to Be Deemed to Be Approved Securities
State: Central
Year: 2002
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), and the Banking Regulation Act, 1949.
View Complete Act List Judgments citing this sectionUnit Trust of India (Transfer of Undertaking and Repeal) Act,2002 Schedule 2
Title: Schedule Ii
State: Central
Year: 2002
.....on August 28, 1999, in the Gazette of India, Part III, section 4 , vide No. UT/DBDM/SPD-112/R-194A/98-99 dated the 27th July, 1999. 25. The UTI G-section Fund published on December 18, 1999, In the Gazette of India, Part III, section 4, vide No. UT/DBDM/R/SPD- 114/99-2000, dated the 18th November, 1999. 26. The UTI Equity Tax Savings Plan published on March 18, 2000, in the Gazette of India, Part III, section 4vide No. UT/DBDM/R-SPD-117/99-2000, dated the 9th February, 2000. 27. The Mastergrowth Unit Scheme - 1993 published on May 20, 2000, in the Gazette of India, Part III, section 4, vide No. UT/DBDM/R-238/SPD-118/99-2000 dated the 17th April, 2000. 28. The Nifty Index Fund (NIF) published on May 20, 2000, in the Gazette of India, Part HI, section 4, vide No. UT/DBDM/R-239/SPD-120/99-2000 dated the 17th April, 2000. 29. The Unit Scheme 1995(US - 95) published on June 3, 2000, in the Gazette of India, Part III, section 4, vide No. UT/DBDM/R-241/SPD-84/99-2000 dated the 3rd May, 2000. 30. The Index Select Equity Fund published on March 17, 2001, in the Gazette of India, Part III, section 4, vide No. UT/DBDM/R-62/SPD-96/2000-2001 dated the 12th February, 2001. 31......
View Complete Act List Judgments citing this sectionUnit Trust of India (Transfer of Undertaking and Repeal) Act,2002 Chapter 2
Title: Transfer and Vesting of the Undertaking of Trust in the Specified Company and Transfer and Vesting of the Specified Undertaking of Trust in the Administrator
State: Central
Year: 2002
.....in which the undertaking or specified undertaking has vested by virtue of this Act as it might have been enforced by or against the Trust if this Act had not been enacted and shall cease to be enforceable by or against the Trust. Section 6 - Provisions in respect of officers and other employees of Trust (1) Every officer or other employee of the Trust (except a trustee of the Board, the Chairman and executive trustee) serving in the employment immediately before the appointed day shall become, as from the appointed day, an officer or, as the case may be, other employee of the specified company and shall hold his office or service therein by the same tenure, at the same remuneration, upon the same terms and conditions, with the same obligations and with the same rights and privileges as to leave, leave fare concession, welfare scheme, medical benefit scheme, insurance, provident fund, other funds retirement, voluntary retirement, gratuity and other benefits as he would have held under the Trust if its undertaking had not vested in the specified company and shall continue to do so as an officer or, as the case may be, other employee of the specified company or until the.....
View Complete Act List Judgments citing this sectionUnit Trust of India (Transfer of Undertaking and Repeal) Act,2002 Chapter 5
Title: Miscellaneous
State: Central
Year: 2002
.....and vesting of the undertaking and the specified undertaking in terms of section 4 shall not be liable to the payment of any stamp duty under that Act. Section 15 - Guarantee to be operative Any guarantee given for or in favour of the Trust with respect to any loan, lease, finance or other assistance shall continue to be operative in relation to the specified undertaking managed by the Administrator. Section 16 - Protection of action taken in good faith No suit or other legal proceedings shall lie against the Central Government or the Administrator, Board of Advisers or any of the officers or other employees of the Central Government for any damage cause or likely to be caused by anything which is in good faith done or intended to be done under this Act. Section 17 - Shares, bonds, debentures and units to be deemed to be approved securities 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), and the Banking Regulation Act, 1949. .....
View Complete Act List Judgments citing this sectionUnit Trust of India (Transfer of Undertaking and Repeal) Act,2002 Schedule 1
Title: Schedule I
State: Central
Year: 2002
.....9, 2000, in the Gazette of India, Part III, section 4, vide No. UT/DBDM/SPD-119-B/R-7/99-2000, dated the 10th August, 2000. 24. The Monthly Income Plan 2001 published on May 12, 2001, in the Gazette of India, Part III, section 4, vide No. UT/DBDM/R-69/SPD-119-D/2000-2001, dated the 9th April, 2001. 25. The Monthly Income Plan 2000 (Third) published on January 13, 2001, in the Gazette of India, Part III, section 4, vide No. UT/DBDM/SPD-119-C/R 15/2000-2001, dated the 14th November, 2000. PART II ASSETS AND INVESTMENTS 26. All assets and investments made out of the Development Reserve Fund created in 1984 under sub-section (1) of section 25-B of the Unit Trust of India Act, 1963 (52 of 1963).
View Complete Act List Judgments citing this sectionUnit Trust of India (Transfer of Undertaking and Repeal) Act,2002 Section 5
Title: General Effect of Vesting of Undertaking or Specified Undertaking in Specified Company or Administrator
State: Central
Year: 2002
.....units shall be distributed and such units shall be redeemed or purchased by them in the same manner as would have been done by the Trust had the undertaking or the specified undertaking not been transferred under section 4. (4) Any proceeding or cause of action pending or existing immediately before the appointed day by or against the Trust may, as from the appointed day, be continued and enforced by or against the specified company or the Administrator, as the case may be, in which the undertaking or specified undertaking has vested by virtue of this Act as it might have been enforced by or against the Trust if this Act had not been enacted and shall cease to be enforceable by or against the Trust.
View Complete Act List Judgments citing this sectionUnit Trust of India (Transfer of Undertaking and Repeal) Act,2002 Chapter 1
Title: Preliminary
State: Central
Year: 2002
.....Institutions Act, 1993 (51 of 1993); (f) "Life Insurance Corporation of India" means the Life Insurance Corporation of India established under sub-section (1) of section 3 of the Life Insurance Corporation Act, 1956 (31 of 1956); (g) "Schedule" means Schedules I and II to this Act; (h) "specified company" means a company to be formed and registered under the Companies Act, 1956 (1 of 1956) and whose entire capital is subscribed by such financial institutions or banks as may be specified by the Central Government, by notification in the Official Gazette, for the purpose of transfer and vesting of the undertaking; (i) "specified undertaking" includes all business, assets, liabilities and properties of the Trust representing and relatable to the schemes and Development Reserve Fund specified in the Schedule I; (j) "State Bank" means the State Bank of India constituted under the State Bank of India Act, 1955 (23 of 1955); (k) "Trust" means the Unit Trust of India established under sub-section (l) of section 3 of the Unit Trust of India Act, 1963 (52 of 1963); (l) "undertaking" includes all business, assets, liabilities and properties of the Trust representing and.....
View Complete Act List Judgments citing this sectionUnit Trust of India (Transfer of Undertaking and Repeal) Act,2002 Section 2
Title: Definitions
State: Central
Year: 2002
.....Institutions Act, 1993 (51 of 1993); (f) "Life Insurance Corporation of India" means the Life Insurance Corporation of India established under sub-section (1) of section 3 of the Life Insurance Corporation Act, 1956 (31 of 1956); (g) "Schedule" means Schedules I and II to this Act; (h) "specified company" means a company to be formed and registered under the Companies Act, 1956 (1 of 1956) and whose entire capital is subscribed by such financial institutions or banks as may be specified by the Central Government, by notification in the Official Gazette, for the purpose of transfer and vesting of the undertaking; (i) "specified undertaking" includes all business, assets, liabilities and properties of the Trust representing and relatable to the schemes and Development Reserve Fund specified in the Schedule I; (j) "State Bank" means the State Bank of India constituted under the State Bank of India Act, 1955 (23 of 1955); (k) "Trust" means the Unit Trust of India established under sub-section (l) of section 3 of the Unit Trust of India Act, 1963 (52 of 1963); (l) "undertaking" includes all business, assets, liabilities and properties of the Trust representing and.....
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