199. Calculation of commission, etc., in certain cases .-
(1)Where any commission or other remuneration payable to any officer or employee of a company (not being a Director [* * *] [Substituted by Act 65 of 1960, Section 56, for Section 198 (w.e.f. 28.12.1960). ] or a manager) is fixed at a percentage of, or is otherwise based on, the net profits of the company, such profits shall be calculated in the manner set out in sections 349 [and 350] [ Substituted by Act 53 of 2000, Section 86, for " ,350 and 351" (w.e.f. 13.12.2000).].(2)Any provision in force at the commencement of this Act for the payment of any commission or other remuneration in any manner based on the net profits of a company, shall continue to be in force for a period of one year from such commencement; and thereafter shall become subject to the provisions of sub-section (1).
