The Unit Trust of India Act,1963
Section 9. Management
(1) The general superintendence, direction and management of the affairs and business of the Trust shall vest in a Board of trustees which may exercise all powers and do all acts and things which may be exercised or done by the Trust.
(2) The Board shall, in discharging its functions under this Act, act on business principles, regard being had to the interest of the unit holders.
