The Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002
Learn about the transfer of Unit Trust of India's assets and liabilities to one or more specified entities through The Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002
Unit Trust Of IndiaTransfer Of UndertakingRepealSpecified EntitiesSpecial Purpose VehicleAccountability
Summary
The Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002 was enacted to provide for the transfer of the undertaking of Unit Trust of India (UTI) to one or more specified entities. The Act also repeals the Unit Trust of India Act, 1963 and transfers the rights, liabilities, and assets of UTI to the specified entities. The Act further provides for the formation of a special purpose vehicle to hold the shares of the specified entities. The Act has been enacted with the aim to streamline the functioning of UTI and to bring in more accountability.
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