Section 21(2) in The Unit Trust Of India Act, 1963

Central Government Act

(2) Subject to the provisions of this Act, and the regulations made under section 43, a scheme made under sub- section (1) may provide for-

(a) 5[ the issue of units and the face value of each unit; Provided that the face value of each unit shall, where such value is in Indian currency, be not less than ten rupees or more than one hundred rupees and where such value is in any foreign currency, be in multiples of ten;]

1. Ins. by Act 17 of 1966, s. 6 (w. e. f. 10- 6- 1966 ). 2. Subs. by Act 52 of 1975, s. 54, for certain words. 3. Ins. by Act 63 of 1985, s. 8 (w. e. f. 23- 4- 1986 ). 4. Subs. by Act 17 of 1966, s. 7, for" shall make a unit scheme" (w. e. f. 10- 6- 1966 ). 5. Subs. by 63 of 1985, s. 9 (w. e. f. 23. 4. 1986 ).

(b) the form and manner in which an application may be made for the purchase of a unit from the Trust;

(d) the issue of unit certificates and the form and manner in which such certificates may be issued;

(e) the issue of duplicate of any unit certificate in the event of loss or destruction of the original and the fee on the payment of which such duplicate may be issued;

(f) the procedure for determining the value at which the units may be sold or purchased, from time to time, by the Trust;

(g) the recognition of persons as unit holders;

(ga) 1[ the application for, and the holding of, or dealing with, units by any parent of a minor;]

(h) the persons to whom, the time at which and the manner in which any payments in respect of a unit shall be made by the Trust;

(i) the preparation and maintenance of a register, if any, of unit holders;

(j) the conditions, if any, subject to which a unit holder may transfer the unit;

(k) any other matter which the Trust may consider to be necessary or proper for the effective implementation of the scheme.