Indian Trusts Act No. 2
(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.