Unit Trust - Law Dictionary Search Results
Home Dictionary Name: unit trustUnit 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)]...
Authorised 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 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...
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...
Documents
Documents, records, writings, precepts, instruc-tions, or directions. See DISCOVERY; ROLLS.Documents means the document read as a whole and not piecemeal, Administrator of the Specified Understating of the Unit Trust of India v. Garware Polyester Ltd., AIR 2005 SC 2520.It is well-established that a document must be read as whole. In a document meant for a transfer of ownership, the purpose is generally stated clearly to be that the property given will be owned and possessed henceforth by the donee in such a way that he could use it or deal with it as he liked, State of U.P. v. Sayed Abdul Jalil, (1973) 2 SCC 26: AIR 1972 SC 1290: (1972) 3 SCR 342....
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)]...
deed
deed 1 : something done : act [my free act and ] 2 : a written instrument by which a person transfers ownership of real property to another see also deliver, grantee, grantor, recording act, registry, title compare certificate of title NOTE: A deed must be properly executed and delivered in order to be effective. Additionally, the grantor must have freely intended to make the transfer at the time of the conveyance. Deeds are recorded at the local registry of deeds to give notice of ownership. bargain and sale deed 1 : a contract resulting from a bargain between a buyer and a seller of real property that creates a use in the buyer and therefore transfers title to the buyer by operation of law 2 : a deed in which the grantor makes no warranties of title to the grantee deed of trust : an instrument securing a debt in which a debtor conveys the legal ownership of real property to a trustee to be held in trust for the benefit of the creditor or to be sold upon the debtor's defaul...
accretion
accretion 1 : the process or a result of growth or enlargement: as a : the increase or extension of the boundaries of land or the consequent acquisition of land accruing to the owner by the gradual or imperceptible action of natural forces (as by the washing up of sand or soil from the sea or a river or by a gradual recession of the water from the usual watermark) ;also : accession in which the boundaries of land are enlarged by this process compare avulsion, reliction b : increase in the amount or extent of any kind of property or in the value of any property [s to a trust fund resulting from the increase in value of…securities in which its corpus is invested "In re Estate of Gartenlaub, 244 P. 348 (1926)"] NOTE: Accretion in value of the principal of a trust is generally not considered income. c : enlargement of a bargaining unit by the addition of new employees 2 in the civil law of Louisiana : the passing to an heir or conjoint legatee of the right to accept a porti...
trust territory
trust territory : a non-self-governing territory placed under an administrative authority by the United Nations ...
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