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Friday, 7 October 2022

Section 56 of MCS ACT 1960 : Restriction on amount of dividend

 56.Restriction on amount of dividend

An Apex society which has purchased shares in other societies from the moneys in the Principal State Partnership Fund, and a Central society which has purchased shares in Primary societies from the moneys in the Subsidiary State Partnership Fund, shall be entitled only to such dividend on the said shares as is declared by the society concerned and is payable to other shareholders of that society.