Legal Document View

Unlock Advanced Research with PRISMAI

Integrated with over 4 crore judgments and laws — designed for legal practitioners, researchers, students and institutions

- Know your Kanoon - Doc Gen Hub - Counter Argument - Case Predict AI - Talk with IK Doc - ...
Upgrade to Premium
[Cites 0, Cited by 18] [Entire Act]

Union of India - Section

Section 28 in Road Transport Corporations Act, 1950

28. Payment of interest and dividend

(1)Where [the whole or part of the capital of a Corporation] [Substituted by Act 63 of 1982, Section 16 and Sch., for " the capital of a Corporation" (w.e.f. 13.11.1982).] is provided by the Central Government and the State Government under sub-section (1) of section 23, the Corporation shall pay interest on such capital at such rate as may, from time to time, be fixed by the State Government in consultation with the Central Government and such interest shall be deemed to be a part of the expenditure of the Corporation.
(2)Where the Corporation [raises the whole or any part of its capital] [Substituted by Act 63 of 1982, Section 16 and Sch., for " raises its capital" (w.e.f. 13.11.1982).] by issue of shares, it shall pay dividend on such shares at such rate as may, from time to time, be fixed by the Corporation, subject to any general limitations which may have been imposed by the State Government in consultation with the Central Government, and such dividend shall be deemed to be a part of the expenditure of the Corporation.
[Delhi] .In its application to the Union territory of Delhi, in Section 28, in sub-Ss. (1) and (2), the words in consultation with the Central Government shall be omitted Delhi Road transport Laws (Amendment) Act, 1971 (71 of 1971), Section 7 and Sch . I (w.r.e.f .3-11-1971 ).