Unit Trust of India (Transfer of Undertaking and Repeal) Act : Shares, bonds, debentures and units

Unit Trust of India (Transfer of Undertaking and Repeal) Act,2002

Act No : 58

Section : Shares, bonds, debentures and units to be deemed to be approvedsecurities.

17. Shares, 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 ap roved securities for the purposes of the Indian Trusts Act, 1882 (2 of 1882), the Insurance Act, 1938 (4 of 1938) and the Banking Regulation Act, 1949 (10 of 1949).