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Section 19 – The Unit Trust of India Act,1963

The Unit Trust of India Act,1963

Section 19. Business of Trust

(1) The Trust may carry on and transact any of the following kinds of business, namely:–

(a) Selling and purchasing units;

(b) Investing in, acquiring, holding or disposing of, securities and exercising and enforcing all powers and rights incidental thereto;

(c) Keeping money on deposit with scheduled banks or with such other institutions as may be prescribed;

(d) Generally, doing all such matters and things as may be incidental to or consequential upon the discharge of its functions under this Act.

(2) The Trust shall not take on lease, purchase or otherwise acquire except for its own use any immovable property or any interest therein.

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The Unit Trust of India Act,1963

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