Unit Trust of India Act : Chairman and executive trustee. Indian Bare Acts :

Unit Trust of India Act,1963

Act No : 52

Section : Chairman and executive trustee.

14. Chairman and executive trustee. (1) The appointment of a Chairman or of an executive trustee may be either whole-time or part- time: Provided that if the appointment of the Chairman is part-time, the appointment of the executive trustee shall be whole-time. (2) The Chairman or the executive trustee shall- (a) hold office for such term not exceeding five years as the 1*[Development Bank] may specify 2*[and shall be eligible for re-appointment]; (b) receive such salary or allowances or both from the Trust and be governed by such terms and conditions of service as the 1*[Development Bank] may determine; and (c) perform such functions as the Board may entrust or delegate to him.