Unit scheme repurchase terms restrict transfers, set repurchase at par and prescribe monthly income distribution arrangements. The Scheme provides a contractual framework for sale, issuance and registration of units, prescribes eligibility and payment mechanics, and vests the Trust with discretion to accept or reject applications. It sets sale and repurchase at par during the Scheme, details repurchase procedures and restrictions including deduction for unpaid income warrants, and requires final termination valuation of assets net of liabilities with a distributable component added to the final repurchase price. Income distribution is structured as periodic warrants subject to revision and conversion by the Trust, and governance provisions permit Trustee construction, amendment and operational relaxations.
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Provisions expressly mentioned in the judgment/order text.
Unit scheme repurchase terms restrict transfers, set repurchase at par and prescribe monthly income distribution arrangements.
The Scheme provides a contractual framework for sale, issuance and registration of units, prescribes eligibility and payment mechanics, and vests the Trust with discretion to accept or reject applications. It sets sale and repurchase at par during the Scheme, details repurchase procedures and restrictions including deduction for unpaid income warrants, and requires final termination valuation of assets net of liabilities with a distributable component added to the final repurchase price. Income distribution is structured as periodic warrants subject to revision and conversion by the Trust, and governance provisions permit Trustee construction, amendment and operational relaxations.
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