Bare Act Search Results

Trust of India (Transfer of Undertaking and Repeal) Act, 2002 Complete Act

State: Central

Year: 2002

.....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 Be it enacted by Parliament in the Fifty-third Year of the Republic of India as follows:" CHAPTER 1 PRELIMINARY SECTION 01: SHORT TITLE AND COMMENCEMENT (1) This Act may be called the Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002. (2) It shall be deemed to have come into force on the 29th day of October, 2002. SECTION 02: DEFINITIONS In this Act, unless the context otherwise requires, (a) "Administrator" means a person or a body of persons appointed as Administrator under Section 7; (b) "appointed day" means such date as the Central Government may, by notification in the Official Gazette, appoint under Section 4; (c) "bank" shall have the meaning assigned to it in clause (d) of Section 2 ot the Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (51 ot 1993); (d) "Development Bank" means the Industrial Development Bank of India established under the Industrial Development Bank of India Act, 1964 (18 of 1964); (e) "financial institution" shall have the meaning assigned to it in clause (h).....

Unit Trust of India Act, 1963 (52 of 1963) Section 3A

Title: Prohibition Against the Use of Words "unit Trust", "unit" or "units" as a Part of the Name of Any Person Other Than the Trust

State: Central

Year: 1963

.....accordingly. (5) No Court shall take cognizance of any offence punishable under this section except upon a complaint in writing made by an officer of the Trust generally or specially authorised in writing in this behalf by the Trust and no Court inferior to that of a Metropolitan Magistrate or a Judicial Magistrate of the first class shall try such offence. Explanation.--For the purposes of this section,-- (a) "company" means any body corporate and includes a firm or other association of individuals; and (b) "director", in relation to a firm, means a partner in the firm.] _____________________________ 1. Inserted by Act 16 of 1975, Section 3 (came into force at once).

Unit Trust of India Act, 1963 (52 of 1963) Chapter II

Title: Establishment of the Unit Trust of India Andthe Initial Capital Thereof

State: Central

Year: 1963

.....Companies Act, 1956, declared as such. 2. Substituted by Act 63 of 1985, Section 3 (w.e.f. 23rd April, 1985). 3. Substituted by Act 17 of 1966, Section 3. Section 4A - Transfer of initial capital to Development Bank 1 [4-A. Transfer of initial capital to DevelopmentBank On such date as the Central Government may, by notification in the official Gazette, appoint (hereinafter referred to as the notified date), all the contributions made by the Reserve Bank to the initial capital of the Trust, as on the date immediately preceding the notified date, shall stand transferred to, and vested in, the Development Bank. ______________________ 1. Inserted by Act 52 of 1975, Section 46 (w.e.f. 16th February, 1976). Section 4B - Payment of amount The Reserve Bank shall be given by the Development Bank, in cash, for the transfer to, and vesting in, the Development Bank of the contributions made to the initial capital of the Trust by the Reserve Bank, an amount equal to contributions to the initial capital so transferred.] Section 5 - Maintenance of register of contributories The Board shall maintain in such manner as may be prescribed a register containing the name of the.....

Unit Trust of India Act, 1963 Complete Act

State: Central

Year: 1963

.....all powers and do all acts and things which may be exercised or done by the Trust. (2) The Board shall, in discharging its functions under this Act, act on business principles regard being had to the interest of the unit holders. SECTION 10: BOARD OF TRUSTEES The Board of trustees shall consist of the following namely- (a) the Chairman to be appointed by the16[Central Government in Consultation with the Development Bank]; 17[(aa) one trustee to be nominated by the Reserve Bank;] (b) four trustees to be nominated by the16[Development Bank], of whom not less than three shall be persons having special knowledge of, or experience in, commerce, industry, banking, finance or investment; (c) one trustee to be nominated by the Life Insurance Corporation; (d) one trustee to be nominated by the State Bank; (e) two trustees to be elected in the prescribed manner by the contributing institutions referred to in clause (d) of sub-section (2) of section 4-, and (f) an executive trustee to be appointed by the16[Development Bank]. Provided that if the appointment of the Chairman is whole -time it shall not be necessary to appoint an executive trustee: Provided further that on the first.....

Unit Trust of India Act, 1963 (52 of 1963) Chapter I

Title: Preliminary

State: Central

Year: 1963

.....p. 47. Section 2 - Definitions In this Act, unless the context otherwise requires,-- (a) "Board" means the Board of Trustees constituted under Section 10 or Section 41; (b) "contributing Institutions" means an institution which is, for the time being, a contributory to the initial capital of the Trust under Section 4; (c) "contribution certificate" means a certificate issued under Section6; 1[(ca) "Development Bank" means the Industrial Development Bank of India established under the Industrial Development Bank of India Act, 1964 (18 of 1964)]: 2[(cb)] "first unit scheme" means the unit scheme made before the commencement of the Unit Trust of India (Amendment) Act, 1966]; 3[(cc) "General Insurance Corporation" means the General Insurance Corporation of India formed under Section 9 of the General Insurance Business (Nationalisation) Act, 1972 (57 of 1972)]; (d) "initial capital" means the capital of the Trust referred to in Section4; (e) "Life Insurance Corporation" means the Life Insurance Corporation of India established under the Life Insurance Corporation Act, 1956 (31 of 1956); (f) "prescribed" means prescribed by regulations made under this Act; .....

Unit Trust of India Act, 1963 (52 of 1963) Section 2

Title: Definitions

State: Central

Year: 1963

In this Act, unless the context otherwise requires,-- (a) "Board" means the Board of Trustees constituted under Section 10 or Section 41; (b) "contributing Institutions" means an institution which is, for the time being, a contributory to the initial capital of the Trust under Section 4; (c) "contribution certificate" means a certificate issued under Section6; 1[(ca) "Development Bank" means the Industrial Development Bank of India established under the Industrial Development Bank of India Act, 1964 (18 of 1964)]: 2[(cb)] "first unit scheme" means the unit scheme made before the commencement of the Unit Trust of India (Amendment) Act, 1966]; 3[(cc) "General Insurance Corporation" means the General Insurance Corporation of India formed under Section 9 of the General Insurance Business (Nationalisation) Act, 1972 (57 of 1972)]; (d) "initial capital" means the capital of the Trust referred to in Section4; (e) "Life Insurance Corporation" means the Life Insurance Corporation of India established under the Life Insurance Corporation Act, 1956 (31 of 1956); (f) "prescribed" means prescribed by regulations made under this Act; 3[(fa) "public financial institution".....

Unit 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.....

Unit 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.....

Unit 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.

Unit Trust of India Act, 1963 (52 of 1963) Section 3

Title: Establishment and Incorporation of Unit Trust of India

State: Central

Year: 1963

(1) The Central Government shall, by notification in the official Gazette, establish a corporation by the name of the Unit Trust of India which shall be a body corporate having perpetual succession and a common seal with power, subject to the provisions of this Act, to acquire, hold or dispose of property and to contract, and may, by the said name, sue or be sued. (2) The head office of the Trust shall be at Bombay or at such other place as the 1 [Development Bank] may, by notification in the official Gazette, specify. (3) The Trust may establish local offices, branches or agencies at any places in or outside India. ________________________________ 1. Substituted by Act 52 of 1975, Section 45 (w.e.f. 16th February, 1976).