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The Companies Act, 1956

Title : The Companies Act, 1956

Year : 1956

 

Sec205B    -     Payment of unpaid or unclaimed dividend.

Any person claiming to be entitled to any money transferred under sub-section (5) of section 205A to the general revenue account of the Central Government, may apply to the Central Government for an order for payment of the money claimed ; and the Central Government may, if satisfied, whether on a certificate by the company or otherwise, that such person is entitled to the whole or any part of the money claimed, make an order for the payment to that person of the sum due to him after taking such security from him as it may think fit.

    Provided that nothing contained in this section shall apply to any person claiming to be entitled to any money transferred to the fund referred to in section 205C on and after the commencement of the Companies (Amendment) Act,1999.


Last updated on May, 2015
Title : The Companies Act, 1956

Year : 1956

Sec206    -    Dividend not to be paid except to registered shareholders or to their order or to theirbankers.

    (1) No dividend shall be paid by a company in respect of any share therein, except

      (a) to the registered holder of such share or to his order or to his bankers ; or

      (b) in case a share warrant has been issued in respect of the share in pursuance of section 114, to the bearer of such warrant or to his bankers.

    (2) Nothing contained in sub-section (1) shall be deemed to require the bankers of a registered shareholder to make a separate application to the company for the payment of the dividend.


   

Last updated on May, 2015

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