Section 12(3) in Caltex [Acquisition of Shares of Caltex Oil Refining (India) Limited And of the Undertakings in India of Caltex (India) Limited] Act, 1977
(3)The successor Government company shall, as soon as may be after the undertakings of Caltex (India) in India become vested in it, constitute, in respect of the moneys and other assets which are transferred to, and vested in, it under this section, one or more trusts having objects as similar to the objects of the existing trusts, as in the circumstances may be practicable, so, however, that the rights and interests of the beneficiaries of the trust referred to in sub-section (1) are not, in any way, prejudiced or diminished.
