Section 8(1) in The Unit Trust Of India (Transfer Of Undertaking And Repeal) Act, 2002
(1)The Administrator shall, immediately on redemption of all the schemes of the specified undertaking and the payment of entire amount to investors, shall vacate his office; but nothing in this sub-section shall e construed as prohibiting his appointment as a member of the Board of Advisers after vacation of his office as such.
