Section 5(3) in The Unit Trust Of India (Transfer Of Undertaking And Repeal) Act, 2002
(3)All unit schemes taken by the Board of the Trust immediately before the commencement of this Act shall be deemed to have been taken by the specified company or the Administrator, as the case may be, and all the units issued by the Trust under such scheme shall be deemed to be the units issued by the specified company or the Administrator, as the case may be, and the income on such units shall be distributed and such units shall be redeemed or purchased by them in the same manner as would have been do e by the Trust had the undertaking or the specified undertaking not been transferred under section 4.
