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Report No. 66

8.17. Significance of section 6-Statutory trust.-

It is obvious that section 6 avoids these difficulties to a large extent by bringing into existence what is conveniently described as a 'statutory trust'. The significance of section 6 lies in the fact that it renders unnecessary a compliance with formalities required

(i) for an assignment, by section 38 of the Insurance Act1, or

(ii) for the creation of a trust, by the Indian Trusts Act, 18822.

1. Para. 8.14, supra.

2. Para. 8.15, supra.

Married Womens Property Act, 1874 Back

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