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of <h1>Section 27A of Securities Contracts Act: Income Rights for Security Holders in Collective Investment Schemes.</h1> Section 27A of the Securities Contracts (Regulation) Act, 1956, outlines the right of a security holder to receive income from a collective investment scheme. It allows holders of units or instruments to retain income declared by the scheme, even after transferring the securities, unless the transferee registers the transfer within fifteen days of the income becoming due. Exceptions for extending this period include the death of the transferee, loss of transfer documents, or postal delays. The provision does not affect the scheme's right to pay income to registered holders or the transferee's right to enforce transfer-related rights.
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