Section 28 in The Punjab State Aid to Industries Rules, 1936
28. Distribution of profits.
- No recipient of a loan or State Aid under this Act shall pay any dividend or distribute or take out any profits in excess or such percentage rate upon the amount of the capital of the industrial concern as may be determined by the Director of Industries, Punjab, in each case no long as any part of the loan or State aid remains unpaid or the guarantee remains in force. The balance of the profits after setting aside proper amount for depreciation or obsolescence of plant and buildings and for the payment of interest on debentures of loans shall be carried to a reserve fund to be utilised in such manner as the [State] [Substituted by the Adaptation of Laws Order, 1950.] Government may approve [Section 33 and 46(2)(k)].
