Section 9 of The Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002
- (1)On such date as the Central Government may, by notification in the Official Gazette, appoint a Board of Advisers to advise and assist the Administrator in carrying on the management of the specified undertaking.
- (2)The composition, term of office of the Advisers, the fees and allowances and other conditions of appointment, disqualifications for being an Adviser, filling up of casual vacancy in the office of the Adviser, the meetings of the Board of Advisers, vacation and resignation of office of the Advisers, shall be such as may be specified in the Scheme made by the Central Government.
Summary
- The Central Government appoints a Board of Advisers to help the Administrator.
- The main job of this Board is to advise and assist the Administrator in managing the specified undertaking.
- The Central Government creates a Scheme to set the rules for the Board.
- This Scheme determines how long Advisers serve, their pay, and how meetings are run.
- The Scheme also outlines what disqualifies someone from being an Adviser and how to fill empty seats.
Practical examples
FAQ
1. Why does the Board of Advisers exist?
The Board is appointed to advise and assist the Administrator in managing the specified undertaking.
2. Who decides the salary of the Advisers?
The fees and allowances are specified in a Scheme made by the Central Government.
3. What happens if an Adviser quits?
The process for filling a casual vacancy and handling resignations is set out in the Scheme made by the Central Government.
Test yourself
Q1.Under Section 9 of The Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002, who appoints the Board of Advisers?
Q2.Under Section 9 of The Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002, what is the primary function of the Board of Advisers?
Q3.Under Section 9 of The Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002, where are the rules regarding the disqualification of an Adviser found?
Q4.Under Section 9 of The Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002, how are casual vacancies on the Board of Advisers filled?
Q5.Under Section 9 of The Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002, how is the appointment of the Board of Advisers officially announced?