Section 22 of The Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002
The provisions of this Act shall have effect notwithstanding anything in consistent therewith contained in any enactment other than this Act or in any instrument having effect by virtue of any enactment other than this Act.
Summary
- This Act has an overriding effect, meaning it is more powerful than other existing laws or legal documents.
- If there is a clash or disagreement between a rule in this Act and a rule in another law, this Act wins.
- This also applies to any legal instruments (like contracts or deeds) that get their power from other laws.
- This ensures that the transfer of the trust happens smoothly without older rules or private agreements blocking the process.
Practical examples
FAQ
1. What happens if a rule in this Act contradicts another national law?
This Act takes priority, and its rules are the ones that must be followed despite the contradiction.
2. Can a private contract or deed stop the transfer process outlined in this Act?
No, this Act overrides any conflicting instruments or documents that were created under other laws.
Test yourself
Q1.Under Section 22 of The Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002, what happens if a provision of this Act conflicts with a provision of a different enactment?
Q2.Under Section 22 of The Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002, does the overriding effect apply to legal instruments like contracts created under other laws?
Q3.Under Section 22 of The Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002, what is the main purpose of this specific provision?
Q4.Under Section 22 of The Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002, which entity has the power to ignore this overriding effect?