Home India Ministry of Finance Publication of Notification in respect of SUUTI...
Date: 04-Oct-2024 Category: Extra Ordinary State: Union Government Country: India

Publication of Notification in respect of SUUTI

Issued by Ministry of Finance · Department of Investment and Public Asset Management

Research with AI Agent Chat with Document Generate Summary Translate Helpful Share Add to Project Create Task

Executive Summary & Key Takeaways

What it means

  • This gazette notification announces the reconstitution of the 'Body of Persons' responsible for managing the Specified Undertaking of Unit Trust of India (SUUTI) on behalf of the Central Government.
  • The reconstitution involves replacing the existing Administrator and Board of Advisers of SUUTI with a new 'Body of Persons'.

Key Changes

  • The 'Body of Persons' managing SUUTI was initially established on October 1, 2014.
  • This notification reconstitutes the 'Body of Persons' with effect from August 18, 2024.
  • The reconstitution partially supersedes a previous notification dated November 9, 2021.
  • The new 'Body of Persons' includes ex-officio members: Additional Secretary/Joint Secretary of the Department of Investment and Public Asset Management (Ministry of Finance) handling SUUTI matters; a Joint Secretary from the Department of Financial Services (Ministry of Finance), nominated by the Secretary of that Department; and the Chief Investment Officer of the Life Insurance Corporation of India.

Impact Analysis

Impact on SUUTI

  • Need for smooth transition: Ensuring a smooth transition of responsibilities and maintaining operational continuity is crucial.

Impact on Government

  • Resource allocation: The government needs to ensure adequate resources are allocated to support the new 'Body of Persons'.

Impact on other stakeholders

  • Ministry of Finance: Increased responsibility for overseeing SUUTI.

Suggested Action Items

  • Ensure compliance with all relevant laws and regulations.

Key Entities Referenced

Central Government: The governing body responsible for overseeing SUUTI. Specified Undertaking of Unit Trust of India (SUUTI): The entity being managed by the 'Body of Persons'. Unit Trust of India (Transfer of Undertaking & Repeal) Act, 2002: The legal framework under which the 'Body of Persons' operates. Department of Investment and Public Asset Management, Ministry of Finance: A key government department involved in the management of SUUTI. Department of Financial Services, Ministry of Finance: Another key government department involved in the management of SUUTI. Life Insurance Corporation of India: A major stakeholder represented on the reconstituted 'Body of Persons'. Notification of even number dated 9th November 2021: The partially superseded notification regarding SUUTI management.
Official Source Record View Original Source →
See Full Document Text
रजिस्ट्री स.ं डी.एल.- 33004/99 REGD. No. D. L.-33004/99 सी.जी.-डी.एल.-अ.-04102024-257699 xxxGIDHxxx CG-DLxx-xEG-I0D4E1x0x2x0 24-257699 असाधारण EXTRAORDINARY भाग II—खण् ड 3—उप-खण्ड (ii) PART II—Section 3—Sub-section (ii) प्राजधकार स ेप्रकाजित PUBLISHED BY AUTHORITY स.ं 3977] िई दिल्ली, िुक्रिार, अक्त बू र 4, 2024/आज‍ि ि 12, 1946 No. 3977] NEW DELHI, FRIDAY, OCTOBER 4, 2024/ASVINA 12, 1946 जित्त मत्रं ालय (जिििे और लोक पररसपं जत्त प्रबधं ि जिभाग) अजधसचू िा िई दिल्ली, 18 जसतम्बर, 2024 का.आ. 4336(अ).—भारतीय यूजिट रस्ट्ट (उपक्रम का अंतरण एि ं जिरसि) अजधजियम, 2002 (2002 की सं. 58) के खंड 7 के उपखंड (1) द्वारा प्रित्त िजियों का प्रयोग करते हुए, केंद्र सरकार िे दििांक 1 अक्टूबर 2014 के प्रभाि से केंद्र सरकार की ओर से भारतीय यूजिट रस्ट्ट ऑफ इंजडया के जिजिर्िष्टि उपक्रम (एसयूयूटीआई) का प्रबंधि करिे हते ु एसयूयूटीआई के प्रिासक और सलाहकार मंडल के स्ट्थाि पर ‘बॉडी ऑफ पसिन्स’ को एसयूयूटीआई के प्रिासक और सलाहकार मंडल के रूप में कायि करिे के जलए प्रजतस्ट्थाजपत दकया। 2. इसके अलािा, भारतीय यूजिट रस्ट्ट (उपक्रम का अंतरण एिं जिरसि) अजधजियम, 2002 के खंड 7 के उपखंड (1) द्वारा प्रित्त िजियों का प्रयोग करते हुए और दििांक 9 ििंबर, 2021 की समसंख्यक अजधसूचिा [भारत के रािपत्र (असाधारण) भाग II, खंड 3, उपखंड (ii) में का.आ. 3467(अ) के तहत प्रकाजित] के आंजिक अजधक्रमण में, केंद्र सरकार िे दििांक 18 अगस्ट्त 2024 के प्रभाि से पििे सिस्ट्यों; जििेि और लोक पररसंपजत्त प्रबंधि जिभाग, जित्त मंत्रालय के अपर सजचि/संयुि सजचि, िो एसयूयूटीआई मामलों को िखे ते हैं; सजचि, जित्तीय सेिाएं जिभाग, जित्त मंत्रालय द्वारा िाजमत संयुि सजचि, जित्तीय सेिाएं जिभाग; और मुख्य जििेि अजधकारी, भारतीय िीिि बीमा जिगम के साथ ‘बॉडी ऑफ पसिन्स’ का पुिगिठि दकया ह।ै [अजधसूचिा संख्या 5/32/2003-यूटीआई एि ंिेपीसी (खंड-V)] आलोक पाण्डे, अपर सजचि 6437 GI/2024 (1)2 THE GAZETTE OF INDIA : EXTRAORDINARY [PART II—SEC. 3(ii)] MINISTRY OF FINANCE (Department of Investment and Public Asset Management) NOTIFICATION New Delhi, the 18th September, 2024 S.O. 4336(E).—In exercise of the powers conferred by sub-section (1) of the section 7 of the Unit Trust of India (Transfer of Undertaking & Repeal) Act, 2002 (No. 58 of 2002), the Central Government replaced Administrator and Board of Advisers of Specified Undertaking of Unit Trust of India (SUUTI) with 'Body of Persons' to act as Administrator and Board of Advisers of SUUTI with effect from 1st October 2014 to carry on the management of SUUTI on behalf of Central Government. 2. Further, in exercise of the powers conferred by sub-section (1) of the section 7 of the Unit Trust of India (Transfer of Undertaking & Repeal) Act, 2002 and in partial supersession of Notification of even number dated 9th November 2021 [Published in Gazette of India (Extraordinary) Part II, Section 3, Sub Section (ii) vide S.O. 3467 (E)], the Central Government has reconstituted the 'Body of Persons' with ex-officio members; Additional Secretary/Joint Secretary of Department of Investment and Public Asset Management, Ministry of Finance, handling SUUTI matters; Joint Secretary, Department of Financial Services, M/o Finance as nominated by Secretary, Department of Financial Services; and Chief Investment Officer, Life Insurance Corporation of India, with effect from 18th August 2024. [Notification No. 5/32/2003-UTI &JPC (Vol-V)] ALOK PANDE, Addl. Secy. Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064 and Published by the Controller of Publications, Delhi-110054.

Continue your research