Unit Trust of India Act,1963
Act No : 52
Section :
Distribution of income.
25A. Distribution of income. (1) The income allocated to the initial capital in any year reduced by the interest and the amount of other expenses charged for that year to the initial capital may be distributed in the prescribed manner among the contributing institutions in each case in proportion to their respective contributions. (2) The income allocated in any year to the unit capital relating to the first unit scheme reduced by the interest and the amount of other expenses charged for that year to such unit capital may, but not less than ninety per cent. of such income so reduced, shall, be distributed in respect of that year to the unit holders under that unit scheme: 2*["Provided that in relation to any year in which the Trust has declared a dividend of not less than ten per cent. on the unit capital the requirement as to distribution of not less than ninety per cent. of such income in such year as so reduced shall not apply."] ---------------------------------------------------------------------- 1. Subs. by Act 52 of 1975, s. 52, for "Reserve Bank" (w.e.f. 16-2- 1976). 2. Added by Act 63 of 1985, s. 10 (w.e.f. 23-4-1986). 160A (3) The income allocated in any year to the unit capital relating to each of the subsequent unit schemes reduced by the interest and the amount of other expenses charged for that year to such unit capital may, having regard to the purposes of that scheme and other relevant factors,- (i) be distributed in respect of that year to the unit holders under that scheme in such manner and at such percentage of the income so reduced as the Board may determine; or (ii) be carried forward and re-invested or otherwise utilised for the benefit of the unit holders in accordance with the provisions of that scheme.
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