Section 3(5) in The Preference Shares (Regulation Of Dividends) Act, 1960
(5)For the purposes of sub-section (1), sub-section (3) and sub-section (4), any reference therein to the stipulated dividend shall, in respect of a preference share issued and subscribed for on or before the 31st March 1959, be construed as a reference to the stipulated dividend as on that day.
