Unit Trusts Act, 1990

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Alteration in trust deed of, or change in name of, authorised unit trust scheme.

7.—(1) No alteration in the trust deed of an authorised unit trust scheme or change in the name of such scheme shall be made without the approval of the Bank and any person who makes an alteration or change as aforesaid without such approval shall be guilty of an offence.

(2) Within 21 days after the making of an alteration in the trust deed of an authorised unit trust scheme or a change in the name of such scheme the management company under the scheme shall deposit with the Bank a copy of the deed as so altered or containing the alterations or (as the case may be) particulars of the change in name.

(3) Where the management company under an authorised unit trust scheme fails to comply with subsection (2), it shall be guilty of an offence.