PUNJAB TRUSTS ACT 2020
Punjab Trusts Act, 2020 was enacted to revise and modify the law related to trust. The Trusts Act, 1882 (II of 1882) (“Repealed Act”) is repealed. Notwithstanding the repeal of the Trusts Act, 1882 (II of 1882), anything done, actions taken, rules made or notifications issued under the Repealed Act, so far as they are not inconsistent with the provisions of this Punjab Trusts Act, 2020 shall be deemed to have been made, done or taken under Punjab Trusts Act, 2020 and shall have effect accordingly. Any document referring to the repealed Act shall be construed as referring to corresponding provisions of this Punjab Trusts Act, 2020. All the trusts registered in the Punjab under the Repealed Act shall be freshly registered under this Punjab Trusts Act, 2020 within a period of six months of the commencement of this Punjab Trusts Act, 2020.
The law was amended vide the Punjab Trusts (Amendment) Act, 2022 whereby certain lacunas in the law were removed.
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