Nomination rights expanded to include governments, local authorities, office-holders and religious or charitable trusts, altering mutual fund nomination scope. The amendment broadens nomination under the Fourth Schedule to allow nomination in favour of the Central Government, State Government, a local authority, any person designated by virtue of his office, and a religious or charitable trust, and revises the instruction qualifying 'trust' to exclude religious or charitable trusts from the prior reference before 'society.'
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Provisions expressly mentioned in the judgment/order text.
Nomination rights expanded to include governments, local authorities, office-holders and religious or charitable trusts, altering mutual fund nomination scope.
The amendment broadens nomination under the Fourth Schedule to allow nomination in favour of the Central Government, State Government, a local authority, any person designated by virtue of his office, and a religious or charitable trust, and revises the instruction qualifying "trust" to exclude religious or charitable trusts from the prior reference before "society."
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