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Preference Shares (Regulation of Dividends) Act, 1960 Section 3

Title: Regulation of Dividends on Preference Shares in Certain Cases

State: Central

Year: 1960

.....the stipulated dividend in the cases refereed to in sub-section (1), or (ii) by eleven per cent of the stipulated dividend in the cases referred to in sub-section (3). (5) For the purposes of sub-section (1), sub-section (3) and sub-section (4), any reference therein to the stipulated dividend shall, in respect of a preference share issued and subscribed for on or before the 31st March, 1959, be construed as a reference to the stipulated dividend as on that day. (6) For the removal of doubts, it is hereby declared that nay reference in this section and section 4A to deduction made form a dividend on account of income-tax payable by the company does not include nay amount deducted by the company from the dividend under Section 194 of the Income-tax Act, 1961 (43 of 1961).

Preference Shares (Regulation of Dividends) Act, 1960 Complete Act

Title: Preference Shares (Regulation of Dividends) Act, 1960

State: Central

Year: 1960

Preamble1 - PREFERENCE SHARES (Regulation of Dividends) Act, 1960 Section1 - Short title and commencement Section2 - Definitions Section3 - Regulation of dividends on preference shares in certain cases Section4 - Special provisions in relation to companies where a portion of their income is not chargeable to income-tax Section4A - Deduction of income-tax Section5 - Overriding effect of Act Section6 - Act not to apply to participating preference dividends Section7 - Power to made rules ScheduleI - SCHEDULE

Preference Shares (Regulation of Dividends) Act, 1960 Preamble 1

Title: Preference Shares (Regulation of Dividends) Act, 1960

State: Central

Year: 1960

PREFERENCE SHARES (Regulation of Dividends) Act, 1960 [Act, No. 63 OF 1960] PREAMBLE An Act to regulate dividends on preference shares of certain companies. Be it enacted by Parliament in the Eleventh Year of the Republic of India as follows: -

Indian Companies (Foreign Interests) and the Companies (Temporary Restrictions on Dividends) Repeal Act, 2000 Preamble 1

Title: Indian Companies (Foreign Interests) and the Companies (Temporary Restrictions on Dividends) Repeal Act, 2000

State: Central

Year: 2000

THE INDIAN COMPANIES (FOREIGN INTERESTS) AND THE COMPANIES (TEMPORARY RESTRICTIONS ON DIVIDENDS) REPEAL ACT, 2000 [Act, No. 24 of 2000] [11th August, 2000] PREAMBLE An Act to repeal the Indian Companies (Foreign Interests) Act, 1918 and the Companies (Temporary Restrictions on Dividends) Act, 1974. be it enacted by Parliament in the Fifty-first Year of the Republic of India as follows:--

Preference Shares (Regulation of Dividends) Act, 1960 Section 6

Title: Act Not to Apply to Participating Preference Dividends

State: Central

Year: 1960

Nothing contained in section 3 or section 4 shall apply to such part of any dividend on preference shares as is referred to in clause (i) of the Explanation to sub-section (1) of section 85 of the Companies Act.

Indian Companies (Foreign Interests) and the Companies (Temporary Restrictions on Dividends) Repeal Act, 2000 Complete Act

Title: Indian Companies (Foreign Interests) and the Companies (Temporary Restrictions on Dividends) Repeal Act, 2000

State: Central

Year: 2000

Preamble1 - INDIAN COMPANIES (FOREIGN INTERESTS) AND THE COMPANIES (TEMPORARY RESTRICTIONS ON DIVIDENDS) REPEAL ACT, 2000 Section1 - Short title Section2 - Repeal of Acts

Preference Shares (Regulation of Dividends) Act, 1960 Complete Act

State: Central

Year: 1960

.....and expressions used but not defined in this Act and defined in the Companies Act shall have the meanings respectively assigned to them in that Act SECTION 03: REGULATION OF DIVIDENDS ON PREFERENCE SHARES IN CERTAIN CASES (1) Where the stipulated dividend in respect of a preference share of a company issued and subscribed for before the 1st April, 1960,- (a) is specified to be free of income-tax and no deduction is made therefrom on account of the income-tax payable by the company, or (b) was being paid before the 1st April, 1960, without any deduction there- from on account of the income-tax payable by the company, notwithstanding the absence of any specification that the dividend would be free of income-tax, every such share shall, as respects dividends declared after the commencement of this Act, carry a preferential right to be paid without any deduction aforesaid such amount as would exceed the stipulated dividend by thirty per cent thereof. (2) Where the stipulated dividend in respect of a preference share of a company issued and subscribed for after the 31st March, 1959, and before the 1st of April, 1960, is free of income-tax and the company, besides paying the.....

Companies Act, 1956 Section 205

Title: Dividend to Be Paid Only out of Profits

State: Central

Year: 1956

.....the expiry of the specified period; or (d) as regards any other depreciable asset for which no rate of depreciation has been laid down by 3 [this Act or any rules made thereunder], on such basis as may be approved by the Central Government by any general order published in the Official Gazette or by any special order in any particular case: Provided that where depreciation is provided for in the manner laid down in clause (b) or clause (c), then, in the event of the depreciable asset being sold, discarded, demolished or destroyed the written down value thereof at the end of the financial year in which the asset is sold, discarded, demolished or destroyed, shall be written off in accordance with the proviso to section 350. 4 [(2A) Notwithstanding anything contained in sub-section (1), on and from the commencement of the Companies (Amendment) Act, 1974 no dividend shall be declared or paid by a company for any financial year out of the profits of the company for that year arrived at after providing for depreciation in accordance with the provisions of sub-section (2), except after the transfer to the reserves of the company of such percentage of its profits for that year,.....

Companies Act, 2013, Section 123

Title: Declaration of Dividend

State: Central

Year: 2013

..... (4) The amount of the dividend, including interim dividend, shall be deposited in a scheduled bank in a separate account within five days from the date of declaration of such dividend. (5) No dividend shall be paid by a company in respect of any share therein except to the registered shareholder of such share or to his order or to his banker and shall not be payable except in cash: Provided that nothing in this sub-section shall be deemed to prohibit the capitalisation of profits or reserves of a company for the purpose of issuing fully paid-up bonus shares or paying up any amount for the time being unpaid on any shares held by the members of the company: Provided further that any dividend payable in cash may be paid by cheque or warrant or in any electronic mode to the shareholder entitled to the payment of the dividend. (6) A company which fails to comply with the provisions of sections 73 and 74 shall not, so long as such failure continues, declare any dividend on its equity shares.

Companies Act, 1956 Section 205A

Title: Unpaid Dividend to Be Transferred to Special Dividend Account

State: Central

Year: 1956

.....unpaid or unclaimed for a period of seven years from the date of such Transfer shall be transferred by the company to the Fund established under sub-section (1) of section 205C.] (6) The company shall, when making any transfer under sub-section (5) to the 7 [Fund established under section 205C] any unpaid or unclaimed dividend, furnish 8 [to such authority or committee as the Central Government may appoint] in this behalf a statement in the prescribed form setting forth in respect of all sum included in such transfer, the nature of the sums, the names and last known addresses of the person entitled to receive the sum, the amount to which each person is entitled and the nature of his claim thereto and such other particulars as may be prescribed. 9 [(7) The company shall be entitled to a receipt from the authority or committee under sub-section (4) of section 205C for any money transferred by it to the Fund and such a receipt shall be an effectual discharge of the company in respect thereof.] (8) If a company fails to comply with any of the requirements of this section, the company and every officer of the company who is in default, shall be punishable with fine which may.....