Authorised Unit Trust - Law Dictionary Search Results
Home Dictionary Name: authorised unit trustAuthorised unit trust
Authorised unit trust, means, as respects an accounting period, a unit trust scheme in the case of which an order under the Financial Services Act, 1986 (UK) is in force during the whole or part of that accounting period, Halsbury's Laws of England, Vol. 5(1), 4th Edn., para 212, p. 173....
Unit trust
Unit trust, means the Unit Trust of India established, under section 3 of the Unit Trust of India Act, 1963. [Reserve Bank of India Act, 1934 (2 of 1934), s. 2(g)]...
unit trust
unit trust see trust ...
trust
trust 1 a : a fiduciary relationship in which one party holds legal title to another's property for the benefit of a party who holds equitable title to the property b : an entity resulting from the establishment of such a relationship see also beneficiary, cestui que trust, corpus declaration of trust at declaration, principal, settlor NOTE: Trusts developed out of the old English use. The traditional requirements of a trust are a named beneficiary and trustee (who may be the settlor), an identified res, or property, to be transferred to the trustee and constitute the principal of the trust, and delivery of the res to the trustee with the intent to create a trust. Not all relationships labeled as trusts have all of these characteristics, however. Trusts are often created for their advantageous tax treatment. accumulation trust : a trust in which principal and income are allowed to accumulate rather than being paid out NOTE: Accumulation trusts are disfavored and often restricted...
Deposite base (authorised institution)
Deposite base (authorised institution), Deposit base of an institution in relation to any contribution is the amount which the Board determines as representing the average, over such period proceeding the levying of the contribution as appears to be appropriate of sterling deposits with the United Kingdom offices of that institution other than (1) secured deposits; (2) deposits which had an original term to maturity of more that five years; and (3) deposits in respect of which the institution has in the United Kingdom issued a sterling certificate of deposit, Banking Act 1987, s. 52(4) (UK) Halsbury's Laws of England 3(1), para 109, p. 92....
Duly authorised
Duly authorised, 'duly authorised in this behalf' in Explanation II of, s. 19 means 'duly authorised by the debtor' and does not include duly authorised by law or by an order of the Court, Kamgarh Shah v. Jagdish Chandra, AIR 1960 SC 953 (960). [Limitation Act, (1908), s. 19, Expln. II]...
trust territory
trust territory : a non-self-governing territory placed under an administrative authority by the United Nations ...
Administrator
Administrator, means the Administrator as referred to in clause (a) of section 2 of the Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002 (58 of 2002). [Income Tax Act, 1961, s. 80C(8)(i)].Administrator means a person appointed by competent authority to administer the estate of a deceased person when there is no executor. [Indian Succession Act (39 of 1925) s. 2(a)]--he to whom the property of a person dying intestate, or without executors appointed, accepting, or surviving, is committed by the Probate Court (now the Probate, Divorce and Admiralty Division of the High Court of Justice). (English) Supreme Court of Judicature (Consolidation) Act, 1925, s. 56(3). By the (English) Court of Probate Act,1857 (20 & 21 Vict. c. 77) (re-enacted in (English) Supreme Court of Judicature (Consolidation) Act, 1925, s. 175), 'Administration' includes all letters of administration of the effects of deceased persons, whether with or without the will annexed, and whether granted for ge...
Investment
Investment, means in common parlance, putting out money on interest, either by the way of loan, or by the purchase of income producing property, Commissioner of Income Tax v. U.P. Co-operative Federation Ltd., AIR 1989 SC 915 (919): (1989) 1 SCC 747: (1989) 1 SCR 586.Investment means an investment in units of the Unit Trust or a Mutual Fund by an assessee under a plan formulated in accordance with this Scheme. [Equity Linked Savings Scheme, 2005, s. 2(c)]...
Trust
Trust, is a comprehensive expression, as covering not only the relationship of trustee and beneficiary but also that a bailor and bailee master and servant pledger and pledgee, guardian and ward and all other relations which postulate the existence of fiduciary relationship between the complainant and the accused, State v. K.P. Jain, (1983) 2 Crimes 947 (All).Trust, is a trust for public purposes, the substances and primary intention of the creator must be seen, Shabbir Husain v. Ashiq Husain, AIR 1929 Oudh 225.Trust, is an obligation annexed to ownership. A trustee holds property 'subject' to an obligation, which the testator has imposed upon him, Mahadeo Ramchandra v. Damodar Vishwanath, AIR 1957 Bom 218: (1957) 59 Bom LR 478.Means any arrangement whereby property is transferred with intention that it be administered for another's benefit is a trust. It casts an obligation on the trustee to use the property for achieving the purpose for which the trust is created, Baba Jamuna Das Mah...
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