Declaration as to shares and debentures held in trust.

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..... stee), the trustee shall, within such time and in such form as may be prescribed, [1] make a declaration to the public trustee. (2) A copy of the declaration made under sub-section (1) shall be sent by the trustee to the company concerned, within twenty-one days, after the declaration has been sent to the public trustee. (3)(a) If a trustee fails to make a declaration as .....

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..... hares in, or debentures of, a company, held in trust] (i) does not exceed one lakh of rupees, or (ii) exceeds one lakh of rupees but does not exceed either five lakhs of rupees or twenty-five per cent of the paid-up share capital of the company, whichever is less [3] [, or]] [4] [(c) where the trust is created, to set up a Mutual Fund or Venture Capit .....

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..... s of shares and debentures) Rules, 1964. [2] Substituted by Companies (Amendment) Act, 1965, Act 31 of 1965, section 16, for certain words, for where the trust money invested in shares in, or debentures of a company w.e.f. 15-10-1965. [3] Inserted by the Companies (Amendment) Act, 1996, w.e.f. 1-3-1997. [4] Inserted by the Companies (Amendment) Act, 1996, w.e.f. 1-3-1997. [5] Ins .....

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