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Start Free TrialUnit 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 sectionTransfer of Property (Amendment) Act, 2002 Preamble 1
Title: Transfer of Property (Amendment) Act, 2002
State: Central
Year: 2002
THE TRANSFER OF PROPERTY (AMENDMENT) ACT, 2002 [Act, No. 3 of 2003] [31st December, 2002] PREAMBLE An Act further to amend the Transfer of Property Act, 1882. BE it enacted by Parliament in the Fifty-third Year of the Republic of India as follows:--
View Complete Act List Judgments citing this sectionSt. John Ambulance Association (India) Transfer of Funds (Repeal) Act, 2002 Complete Act
Title: St. John Ambulance Association (India) Transfer of Funds (Repeal) Act, 2002
State: Central
Year: 2002
Preamble1 - JOHN AMBULANCE ASSOCIATION (INDIA) TRANSFER OF FUNDS (REPEAL) ACT, 2002 Section1 - Short Title Section2 - Repeal and Saving
List Judgments citing this sectionTransfer of Property (Amendment) Act, 2002 Complete Act
Title: Transfer of Property (Amendment) Act, 2002
State: Central
Year: 2002
Preamble1 - TRANSFER OF PROPERTY (AMENDMENT) ACT, 2002 Section1 - Short title Section2 - Substitution of new section for section 106 Section3 - Transitory provisions
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 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 Section 3
Title: Transfer of Initial Capital
State: Central
Year: 2002
(1) On the appointed day, the initial capital of the Trust, contributed by the Development Bank, the Life Insurance Corporation, the State Bank and the subsidiary banks and other institutions under section 4 and 4-A of the Unit Trust of India Act, 1963 (52 of 1963), as it stood immediately before the commencement of this Act, shall stand transferred to, and vest in, the Central Government. (2) The initial capital contributed by the Development Bank, the Life Insurance Corporation, the State Bank and the subsidiary banks and other institutions shall be refunded, by the Central Government, to such extent as may be determined by it, having regard to the book value, the assets and liabilities of the Trust.
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 Section 13
Title: Tax Exemption or Benefit to Continue to Have Effect
State: Central
Year: 2002
(1) Notwithstanding anything contained in the Income-tax Act, 1961 (43 of 1961) or any other enactment for the time being in force relating to tax or income, profits or gains, no income-tax or any other tax shall be payable by the Administrator in relation to the specified undertaking 1[for the period beginning on the appointed day and ending on 2[the 31st day of March, 2014]] computed from the appointed day in respect of any income, profits or gains derived, or any amount received in relation to the specified undertaking. (2) The transfer and vesting of the undertaking or the specified undertaking in terms of section 4 shall not be construed as a transfer within the meaning of the Income-tax Act, 1961 (43 of 1961) for the purposes of capital gains. ______________________________________ 1. Substituted by the Finance Act, 2008 w.e.f. 1st day of February, 2008 for the words "for a period of five years computed from the appointed day". 2. Substituted by the Finance (No. 2) Act, 2009 w.e.f. 1st March, 2014. "the 31st day of March, 2009"
View Complete Act List Judgments citing this sectionUnit Trust of India (Transfer of Undertaking and Repeal) Act,2002 Section 18
Title: Substitution in Every Act, Rule, Regulation or Notification by Specified Company or Administrator in Place of Trust
State: Central
Year: 2002
In every Act, rule, regulation or notification in force on the appointed day, for the word "Unit Trust of India", wherever they occur, the words, brackets and figures "specified company referred to in the Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002" or "Administrator of the specified undertaking of the Unit Trust of India referred to in the Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002", as the case may be, shall be substituted
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