Section 20(2)(a) in Securities Contracts (Regulation) Rules, 1957

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Union of India - Subsection

Section 20(2)(a) in Securities Contracts (Regulation) Rules, 1957

(a)Its articles of association provide for the following among others-

(i)that the company shall use a common form of transfer of units of a particular scheme;

(ii)that the fully paid units issued under the scheme will be free from all lien, while in the case of partly paid units the company's lien, if any, will be restricted to moneys called or payable at a fixed time in respect of such units;

(iii)that any amount paid-up in advance of calls on any units may carry interest but shall not entitle the holder of the unit to participate in respect thereof, in a return subsequently declared;

(iv)there will be no forfeiture of unclaimed returns before the claim becomes barred by law;

(v)that option or right to call of units shall not be given to any person except with the sanction of the company in general meeting :

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Union of India - Subsection

Section 20(2)(a) in Securities Contracts (Regulation) Rules, 1957