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State govt to review law regulating trusts
Team Udayavani, Jan 28, 2020, 10:45 AM IST
Bengaluru: Law minister J C Madhuswamy on Monday said that the government will review a shelved bill regulating trust entities.
The Karnataka Public Trusts Act, 2011 was withdrawn immediately after being passed in the state legislature because of a mistake in stipulating the fee a trust must pay to the government.
The minister explained that presently without an Act on the subject it is difficult to determine the definition of a ‘trust’ and who’s a ‘trustee,’ making it even difficult during litigation.
He further added that he has already discussed it with the Revenue Minister and will try to introduce the bill in the 4-day assembly session commencing on February 17.
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