Section 19(3) in The West Bengal Development Corporation Act, 1954
(3)The authorised capital of the Corporation shall be divided into such number of shares as the State Government may determine, and the number of shares which may be subscribed by the State Government and other parties shall also be determined by the State Government :Provided that the value of the shares to be subscribed by the State Government shall not be less than fifty-one per cent, of the authorised capital.
