Indian Trusts Act No. 2

India

(enacted in 1882)

The Indian Trusts Act No. 2 defines and amends the law relating to private trusts and trustees. Microfinance NGOs in India register as either societies, trusts or Section 25 companies. 

This act is organized as follows:

  • Chapter I Preliminary;
  • Chapter II Of the Creation of Trusts;
  • Chapter III Of the Duties and Liabilities of Trustees;
  • Chapter IV Of the Rights and Powers of Trustees;
  • Chapter V Of the Disabilities of Trustees;
  • Chapter VI Of the Rights and Liabilities of the Beneficiary;
  • Chapter VII Of Vacating the Office of Trustee;
  • Chapter VIII – Of the Extinction of Trusts; and 
  • Chapter IX – Of Certain Obligations in the Nature of Trusts.