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The Madras Electricity Supply Undertakings (Acquisition) Act, 1954 Complete Act

State: Kerala

Year: 1954

.....in such market during the period of three years aforesaid, or if such quotations during the whole of any one of those three years were not based on actual transactions in such year. (b) In the case of shares issued on or before the 31st March, 1946, if clause (a) does not apply but there have been bona fide transfers in each of the different classes of shares in every one of the three years aforesaid, and such transfers have been duly registered in the appropriate books of the licensee, the value of each share of each such class shall be reckoned at one-third of the aggregate of its three annual average values for the three years, the average value for each year being determined from the transactions in that year. (c) Where the amounts called for in respect of any share referred to in clause (a) or clause (b) are in arrears, the value of such share shall be taken to be a sum which bears to its value as reckoned under clause (a) or clause (b), as the case may be, the same proportion as the amount paid up bears to the full amount payable in respect of the share. (d) In the case of shares issued after the 31st March, 1946, their aggregate value shall be taken to be the amount.....