Bare Act Search Results

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

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

Companies Act, 1913 Complete Act

State: Central

Year: 1913

.....its ordinary original civil jurisdiction; (7) "existing company "means a company formed and registered under the (Companies Act, 1866), or under any Act or Acts repealed thereby, or under (Companies Act, 1882): (8) " Insurance company " means a company that carries on the business of insurance either solely or in common with any other business or businesses: (9) "manager " means a person who, subject to the control and direction of the directors has the management of the whole affairs of a company, and includes a director or any other person occupying the position of a manager by whatever name called and whether under a contract of service or not: (9A) " managing agent " means a person, firm or company entitled to the management of the whole affairs of a company by virtue of an agreement with the company, and under the control and direction of the directors except to the extent, if any, otherwise provided for in the agreement and includes any person, firm or company occupying such position by whatever name called : Explanation.-If a person occupying the position of a managing agent calls himself a manager he shall nevertheless be regarded as managing agent and not as manager for.....

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 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.

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.....

Preference Shares (Regulation of Dividends) Act, 1960 Schedule I

Title: Schedule

State: Central

Year: 1960

.....per cent of the aggregate of (i) the stipulated dividend, and (ii) an amount equal to eleven per cent of the stipulated divided as specified in sub-section (3) of section 3", the following shall be substituted, namely: - "Twenty-seven and a half per cent of the stipulated dividend: Provided that i a case where the preference shares in respect of which the dividend is declared or paid form part of the preference share capital of a company which, in respect of the greater part of its total income, is entitled to a deduction from tax chargeable form it under the Income-tax Act, 1961(43 of 1961), under a notification issued by the Central Government under section 294A of that Act, the reference to twenty-seven and a half per cent of the stipulated dividend shall be construed as a reference to-- (i) where the stipulated divided din respect of such preference share is declared or paid in respect of the previous year relevant to the assessment year commencing on the 1st day of April, 1963, the said twenty-seven and a half per cent as reduced by forty-five per cent thereof; (ii) where such dividend is declared or paid in respect of the previous year relevant to the assessment.....

Companies (Declaration of Dividend out of Reserves) Rules, 1975 Complete Act

State: Central

Year: 1975

COMPANIES (DECLARATION OF DIVIDEND OUT OF RESERVES) RULES, 1975 1. Short title. These Rules may be called the Companies (Declaration of Dividend out of Reserves) Rules, 1975. 2. Declaration of dividend out of reserves.- In the event of inadequacy or absence of profits in any year, dividend may be declared by a company for that year out of the accumulated profits earned by it in previous years and transferred by it to the reserves, subject to the conditions that- (i) the rate of dividend declared shall not exceed the average of the rates at which dividend was declared by it in the five years immediately preceding that year or ten per cent of its paid up capital, whichever is less; (ii) the total amount to be drawn from the accumulated profits earned in previous years and transferred to the reserves shall not exceed an amount equal to one-tenth of the sum of its paid up capital and free reserves and the amount so drawn shall first be utilised to set off the losses incurred in the financial year before any dividend in respect of preference or equity shares is declared; and (iii) the balance of reserves after such drawal shall not fall below fifteen per cent of.....