Unit Trusts Act, 1972

Obligation on managers under unit trust schemes to purchase units.

13.—Whenever the holder of units of a registered unit trust scheme or (subject to the provisions of any order under section 10 (2) (e) of this Act) of a unit trust scheme the registration of which under this Act stands cancelled so requests, the manager under the scheme shall, as soon as may be, buy from the holder such number of those units as the holder may specify at the price for the time being at which the manager buys units of the scheme.