CA. Kunal Lakhotia (ACA) (1006 Points)
07 November 2012ABC Trust is renewed and a new trust deed is there:
"MOA-ABC Trust
Objects of the Trust:-
a) To vest the property of ABC Trust."
What does this mean?
Is the property of ABC Trust(old) transferred to ABC Trust(renewed) by the above wordings?
Or its just that funds of the trust will be vested?
CA D R P
(Chartered Accountant)
(313 Points)
Replied 07 November 2012
IN MY OPINION IT MEANS....
"TO UTILIZE THE PROPERTY OF ABC TRUST FOR FULFILLMENT OF OTHER OBJECTIVES"
CAclubindia
