Section 18(3) in The West Bengal Backward Classes Development And Finance Corporation Act, 1995.
(3)The authorised capital of the Corporation shall be one hundred crores of rupees which 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 the members of the public shall also be determined by the State Government:Provided that the value of the shares to be subscribed by the State Government shall at any point of time be not less than fifty-one per cent. of the authorised capital.
