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        Bills

        Clause 129 - Commencement of this Part.

        Finance Bill, 2017
        Part I
        AMENDMENTS TO THE INDIAN TRUSTS ACT, 1882

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        Trust investment powers expanded to permit instrument-authorised investments or securities specified by central notification, proviso language simplified. Amendments to section 20 authorise trustees to invest trust money either as expressly authorised by the instrument of trust or in securities or classes of securities specified by the Central Government by notification in the Official Gazette, and omit the limiting phrase in the proviso that referred to consent for investments 'in any of the securities or class of securities mentioned above,' with the amendments to be brought into force by notification.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Trust investment powers expanded to permit instrument-authorised investments or securities specified by central notification, proviso language simplified.

                                Amendments to section 20 authorise trustees to invest trust money either as expressly authorised by the instrument of trust or in securities or classes of securities specified by the Central Government by notification in the Official Gazette, and omit the limiting phrase in the proviso that referred to consent for investments "in any of the securities or class of securities mentioned above," with the amendments to be brought into force by notification.


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