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Indian Trusts Act, 1882 is a law in India relating to private trusts and trustees. The Act defines what would lawfully be called as a trust and who can legally be its trustees and provides a definition for them.
In every trust deed, the minimum and maximum number of trustees has to be specified. The trust deed should clearly spell out the aims and objects of the trust, how the trust should be managed, how other trustees may be appointed or removed, etc. The trust deed should be signed by both the settlor/s and trustee/s in the presence of two witnesses.
Some of the states in India have enacted the Public Charitable Trust Act, while most states in India do not have a trust Act. An NGO can be created only under a public trust Act. Madhya Pradesh and Rajasthan have independent state-level public trust Acts. States like West Bengal, Jharkhand and Bihar do not have any Act to register a public trust.
Unit Trust of India (Transfer of Undertaking and Repeal) Act: 2002: 58 Delhi Metro Railway (Operation and Maintenance) Act: 2002: 60 Suppression of Unlawful Acts against Safety of Maritime Navigation and Fixed Platforms on Continental Shelf Act: 2002: 69 Competition Act: 2003: 12 Control of National Highways (Land and Traffic) Act: 2003: 13
A Section 664 trust makes payments either of a fixed amount (charitable remainder annuity trust) or a percentage of trust principal (charitable remainder unitrust), [15] to either the donor or another named beneficiary. If the trust qualifies under the IRS code, the donor may claim a charitable income tax deduction for their donation to the trust.
The Societies Registration Act, 1860 is a legislation in British India which allows the registration of entities generally involved in the benefit of society – education, health, employment etc.
(Reuters) -Rupert Murdoch has lost a bid to change his family trust to consolidate control of his media empire in the hands of his son Lachlan, the New York Times reported on Monday, citing a ...
[4] [5] The trust was established with the purpose of starting a sarvajana ("omniscient") school when a family member was denied admission to existing schools run by British. [6] The four brothers voluntarily divided their ancestral properties into five parts, reserving the one fifth amounting to ₹ 2.01 lakhs to create a charity trust. [7]