Appointment of Body of Persons of SUUTI

## Policy Analysis Report: Amendment to the Unit Trust of India Transfer of Undertaking Repeal Act, 2002 **1. Executive Summary:** This report analyzes an amendment to the Unit Trust of India Transfer of Undertaking Repeal Act, 2002 (No. 58 of 2002), specifically focusing on the appointment of a new member to the Body of Persons acting as Administrator and Board of Advisers of the Specified Undertaking of the Unit Trust of India (SUUTI). The amendment replaces Shri K. N. Prithviraj with Dr. Kishore Sansi, effective November 1st, 2021. The core purpose of this amendment is to maintain a functional and qualified body to manage SUUTI on behalf of the Central Government. The key finding is the central government's continued active management of SUUTI via the appointment and replacement of key personnel within its administrative body. **2. Introduction:** This report provides an informative analysis of a notification pertaining to the Unit Trust of India Transfer of Undertaking Repeal Act, 2002. The analysis is based solely on the provided text of the notification and aims to clarify the implemented changes and their potential implications. **3. Policy Overview:** * **Original Policy:** Unit Trust of India Transfer of Undertaking Repeal Act, 2002 (No. 58 of 2002). * **Core Objectives (inferred from text):** The original act, as indicated by the text, aimed to address the transfer and repealing of the Unit Trust of India's undertaking. This amendment's objective, derived from the text, is to ensure the continued and effective management of SUUTI by a designated Body of Persons on behalf of the Central Government, as per the original act's provisions. **4. Background and Rationale:** This amendment addresses the need to fill a vacancy within the Body of Persons administering SUUTI. The resignation or departure of Shri K. N. Prithviraj necessitated the appointment of a replacement to maintain the operational capacity and mandated composition of the administrative body. The text suggests a proactive approach to ensuring SUUTI's management remains consistent and compliant with the Act. **5. Key Provisions / Changes:** * **Specific Part of Original Policy Changed:** Section 7, subsection 1 of the Unit Trust of India Transfer of Undertaking Repeal Act, 2002 (No. 58 of 2002) which grants the central government power to appoint members of the Body of Persons managing SUUTI. * **New Rule/Provision:** The Central Government appoints Dr. Kishore Sansi as a member of the Body of Persons of SUUTI, effective November 1st, 2021. His term lasts for 3 years, until he reaches 65 years of age, or until further orders, whichever is earliest. * **Difference/Effect of Change:** This appointment replaces Shri K. N. Prithviraj, who ceased to be a member on October 31st, 2021. The change ensures continuity in the management and oversight of SUUTI and maintains the required composition of the Body of Persons. This maintains governance and decision-making authority concerning SUUTI. **6. Target Audience and Stakeholders:** The primary target audience includes: * **SUUTI:** The amendment directly impacts the administrative structure and functioning of SUUTI. * **Central Government (specifically, the Department of Investment and Public Asset Management - DIPAM):** DIPAM is responsible for the oversight and management of SUUTI on behalf of the government. * **Dr. Kishore Sansi:** The newly appointed member. * **Industry:** Entities affected by SUUTI's decisions/investments. **7. Implementation Aspects (Inferred):** * **Responsible Agency/Bodies:** * Central Government (specifically DIPAM within the Ministry of Finance) is responsible for the appointment. * SUUTI's CEO and the remaining members of the Body of Persons will be involved in integrating the new member. * **Timelines/Procedures:** * The appointment is effective from November 1st, 2021. * Dr. Sansi's term is defined as 3 years, up to age 65, or until further orders. * Terms and conditions of the appointment are to be specified separately. **8. Expected Outcomes / Impact of Changes:** The likely intended outcome of this amendment is to: * Ensure the continued smooth operation and management of SUUTI by maintaining a fully constituted administrative body. * Bring in new expertise and perspective through the appointment of Dr. Sansi. * Facilitate the achievement of SUUTI's objectives on behalf of the Central Government, presumably related to managing investments and public assets. **9. Conclusion:** The amendment to the Unit Trust of India Transfer of Undertaking Repeal Act, 2002, through the appointment of Dr. Kishore Sansi to the Body of Persons of SUUTI, is a procedural but important step to maintain effective governance and management of SUUTI. It reflects the government's commitment to actively overseeing the operations of SUUTI and ensuring its continued functioning according to the Act. The change, while seemingly minor, has potentially significant implications for SUUTI's strategic direction and operational efficiency.

Key Entities Referenced