MISCELLANEOUSCentral

Section 18 of The Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002

In every Act, rule, regulation or notification in force on the appointed day, for the words "Unit Trust of India", wherever they occur, the words, brackets and figures "specified company referred to in the Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002 or "Administrator of the specified undertaking of the Unit Trust of India referred to in the Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002", as the case may be, shall be substituted.

Summary

The name Unit Trust of India gets replaced in every existing law, rule, regulation, or notification.
It is replaced by either the specified company or the Administrator of the specified undertaking.
The exact new phrasing points back to The Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002.
This global text replacement takes effect on the appointed day.

Practical examples

1A government notification from 1995 instructed public schools to invest savings with the Unit Trust of India. Starting on the appointed day, the text of that old rule is legally read as instructing them to invest with the specified company or Administrator.

2A local municipal rule book states that building deposits can be held by the Unit Trust of India. Without having to reprint the whole rule book, this law automatically updates those words to name the new entities created in 2002.

FAQ

1. Do lawmakers have to rewrite every old rule that mentions the Unit Trust of India?

No, this section automatically substitutes the old name with the new entities in all existing rules and acts.

2. When does this automatic name change happen?

The substitution takes effect on the appointed day.

3. What exactly replaces the old name?

It is replaced by either the specified company or the Administrator, followed by a reference to this 2002 Act.

Test yourself

Q1.Under Section 18 of The Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002, what phrase is being removed and substituted in every Act or rule?

Q2.Under Section 18 of The Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002, when does this global substitution of names take effect?

Q3.Under Section 18 of The Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002, what replaces the old name in existing rules?

Q4.Under Section 18 of The Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002, which of the following is NOT explicitly mentioned as a document where this substitution happens?

Q5.Under Section 18 of The Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002, does the new substituted text include the full name of the 2002 Act?

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