Laws and Bare Acts of India at MyNation.net

MyNation Foundation Online Law Library

Section 13 – The Unit Trust of India Act,1963

The Unit Trust of India Act,1963

Section 13. Vacation and resignation of office of trustee

(1) If a trustee-

(a) Becomes subject to any of the disqualifications mentioned in section 12; or

(b) Is absent without leave of the Board from more than three consecutive meetings thereof; or

(c) Being a trustee elected or deemed to be elected under clause (e) of section 10 becomes an officer or other employee of Government or of the Reserve Bank, State Bank, a subsidiary bank or the Trust,

His office shall thereupon become vacant.

(2) A trustee nominated under clause (b) of section 10 who is not an officer of the Reserve Bank or a trustee elected or deemed to be elected under clause (e) of that section may be letter addressed to the Board resign his office and on such resignation being accepted by the Board shall be deemed to have vacated his office.

Previous | Next

The Unit Trust of India Act,1963

Indian Laws – Bare Acts

MyNation

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © 2020 Laws and Bare Acts of India at MyNation.net
×

Free Legal Help, Just WhatsApp Away

MyNation HELP line

We are Not Lawyers, but No Lawyer will give you Advice like We do

Please read Group Rules – CLICK HERE, If You agree then Please Register CLICK HERE and after registration  JOIN WELCOME GROUP HERE

We handle Women Centric biased laws like False Section 498A IPC, Domestic Violence(DV ACT), Divorce, Maintenance, Alimony, Child Custody, HMA 24, 125 CrPc, 307, 312, 313, 323, 354, 376, 377, 406, 420, 497, 506, 509; TEP, RTI and many more…

MyNation FoundationMyNation FoundationMyNation Foundation