Unit Trust of India Act : Reserve funds. Indian Bare Acts :

Unit Trust of India Act,1963

Act No : 52

Section : Reserve funds.

25B. Reserve funds. (1) The Trust may establish one or more reserve funds by transferring such sums as it may deem fit out of the amount of the income of the Trust not distributed to the contributing institutions or unit holders under the provisions of this Chapter. (2) Subject to the provisions of this Act, the amount in any reserve fund created specifically for the purposes of any unit scheme shall be applied or utilised only for the benefit of the unit holders under that unit scheme and for such purposes and in such manner as the Board may determine.