LawgistThe Unit Trust of India (Transfer of Undertaking and Repeal) Act
17Shares, bonds, debentures and units to be deemed to be approved securities
Notwithstanding anything contained in any other law for the time being in force, the shares, bonds, debentures and units of the specified undertaking shall be deemed to be approved securities for the purposes of the Indian Trusts Act, 1882 (2 of 1882), the Insurance Act, 1938 (4 of 1938) 1***.
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1. The words and figures "and the Banking Regulation Act, 1949 (10 of 1949)" omitted by Act 4 of 2013, the Schedule and s. 17
MISCELLANEOUS
- 12 Concession, etc., to be deemed to have been granted to specified undertaking
- 13 Tax exemption or benefit to continue to have effect
- 14 Exemption from stamp duty
- 15 Guarantee to be operative
- 16 Protection of action taken in good faith
- 17 Shares, bonds, debentures and units to be deemed to be approved securities
- 18 Substitution in every Act, rule, regulation or notification by specified company or Administrator in place of Trust
- 19 Power of Central Government to alter Schedules I and II
- 20 Power of Central Government to make Scheme
- 21 Repeal and saving of Act 52 of 1963
- 22 Act to have overriding effect
- 23 Application of other laws not barred
- 24 Power to remove difficulties
- 25 Repeal and saving
