Declaration as to shares and debentures held in trust.

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.... (hereinafter referred to as the trustee), the trustee shall, within such time and in such form as may be prescribed,^[1] make a declaration to the public trustee.           (2) A copy of the declaration made under sub-section (1) shall be sent by the trustee to the company concerned, within twenty-one days, after the declaration has been sent to the....

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....shall not apply in relation to a trust           (a) where the trust is not created by instrument in writing; or           (b) even if the trust is created by instrument in writing ^[2][where the value of the shares in, or debentures of, a company, held in trust]       &....

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....sp;       (i) in the case of shares or debentures acquired by way of allotment or transfer for consideration, the cost of acquisition thereof, and           (ii) in any other case, the paid-up value of the shares or debentures.] ^[6][(5) The provisions of this section shall not apply on and after the commencement of t....