https://www.taxtmi.com/acts?id=12462 Section 153B mandates that trustees holding company shares or debentures must submit a prescribed declaration to the public trustee and provide a copy to the company; failure to declare or making knowingly false statements attracts penal sanctions. Exemptions exclude trusts not created in writing and written trusts whose holdings fall below defined value thresholds or which are created to establish specified types of funds, with rules specifying how to determine the value of holdings. en-us Mon, 09 May 2011 19:02:04 +0530 Mon, 09 May 2011 19:04:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=12462 Section 153B mandates that trustees holding company shares or debentures must submit a prescribed declaration to the public trustee and provide a copy to the company; failure to declare or making knowingly false statements attracts penal sanctions. Exemptions exclude trusts not created in writing and written trusts whose holdings fall below defined value thresholds or which are created to establish specified types of funds, with rules specifying how to determine the value of holdings. Act-Rules Companies Law Mon, 09 May 2011 19:02:04 +0530 https://www.taxtmi.com/acts?id=12462