Unit Trust of India Act : Right of transfer of contribution certificates in certain cases. Indian Bare

Unit Trust of India Act,1963

Act No : 52

Section : Right of transfer of contribution certificates in certain cases.

7. Right of transfer of contribution certificates in certain cases. (1) Any contributing institution referred to in clause (d) of sub-section (2) of section 4 may, in the prescribed manner, transfer a contribution certificate to any other institution referred to in that clause and thereupon such other institution shall be deemed to be a contributing institution for the purposes of this Act. (2) Save as provided in sub-section (1), a contribution certificate shall not be transferred.