Approval the continuation of Body of Persons of SUUTI

## Report on Amendment to 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, specifically focusing on the notification S.O. 4152(E) dated August 30, 2022. The amendment, issued by the Department of Investment and Public Asset Management (DIPAM), Ministry of Finance, concerns the continuation of the Body of Persons of SUUTI (Specified Undertaking of the Unit Trust of India). The core purpose of this amendment is to extend the operation of SUUTI for a further three years, from October 1, 2021, to September 30, 2024. This report highlights the key changes introduced by the amendment and their potential implications. **2. Introduction:** This report aims to provide a comprehensive overview of the amendment notification S.O. 4152(E) dated August 30, 2022, pertaining to the Unit Trust of India Transfer of Undertaking Repeal Act, 2002. The analysis is based solely on the information provided in the policy text. **3. Policy Overview:** * This report concerns an *amendment* to the existing Unit Trust of India Transfer of Undertaking Repeal Act, 2002 (No. 58 of 2002). * **Core Objective (inferred from text):** To extend the operational period of the Body of Persons of SUUTI, ensuring its continued functioning. **4. Background and Rationale:** The amendment suggests that the Central Government deems the continuation of SUUTI necessary. The prior notification (S.O. 3467E, dated 9th November 2021) presumably established the initial operational framework for SUUTI. This amendment, extending its tenure, indicates that SUUTI's function remains relevant and requires continued government oversight or support. **5. Key Provisions / Changes:** * **Specific Part of Original Policy Changed:** The amendment adds paragraph 1A after paragraph 1 in the notification of the Government of India, Ministry of Finance, Department of Investment and Public Asset Management, published in the Gazette of India, Extraordinary Part II, Section 3, Sub Section ii, vide S.O. 3467E, dated 9th November 2021. * **New Rule/Provision:** Paragraph 1A states: "The Central Government has also approved the continuation of Body of Persons of SUUTI w.e.f. 01.10.2021 for a further period of three years i.e. 30.09.2024." * **Difference/Effect of Change:** This amendment effectively extends the operational lifespan of the Body of Persons of SUUTI until September 30, 2024. Without this amendment, SUUTI's mandate may have been due to expire. **6. Target Audience and Stakeholders:** Based on the provided text, the primary stakeholders directly affected by this amendment include: * The Body of Persons of SUUTI and its management. * The Department of Investment and Public Asset Management (DIPAM), Ministry of Finance. * Entities dealing with SUUTI, including investors and financial institutions. **7. Implementation Aspects (Inferred):** * **Responsible Agency:** The Department of Investment and Public Asset Management (DIPAM), Ministry of Finance, is responsible for implementing this amendment. * **Timelines:** The amendment specifies a clear timeline for the extended operation of SUUTI: from October 1, 2021, to September 30, 2024. * The amendment came into effect on August 30, 2022, upon publication in the Gazette of India. **8. Expected Outcomes / Impact of Changes:** The intended outcome of this amendment is to provide continuity in the operations of SUUTI. This ensures that SUUTI can continue to fulfill its mandate. The impact of this change is likely to maintain stability and confidence among stakeholders associated with SUUTI. By extending SUUTI's operational period, the government aims to achieve certain objectives, such as the effective management and divestment of its holdings in various companies, as originally intended when SUUTI was formed. **9. Conclusion:** The amendment to the Unit Trust of India Transfer of Undertaking Repeal Act, 2002, as detailed in notification S.O. 4152(E), signifies the government's continued commitment to SUUTI. The extension of SUUTI's operational period until September 30, 2024, ensures continuity in its functions and provides a clear timeline for stakeholders. This amendment is a significant step in maintaining the stability and effectiveness of SUUTI's operations, impacting related industries.

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