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Section 5: Capital of Corporation

The Himachal Pradesh Ex-servicemen Corporation Act, 1979State Act of Himachal Pradesh · Act 8 of 1980

The authorised capital of the Corporation shall be such sum not exceeding 2[five crores] of rupees as the Government may initially fix:

Provided that where the capital initially fixed is less than 3[five crores] of rupees, the Government may, from time to time, increase the capital to such sum not exceeding 4[five crores] of rupees as it may think fit.

Explanation.- The expression "authorised capital" for the purpose of this section shall not include the grant-in-aid received by the Corporation for specific purposes.

CHAPTER-III MANAGEMENT OF THE CORPORATION

Where this provision sits

ActThe Himachal Pradesh Ex-servicemen Corporation Act, 1979
Section5
Marginal noteCapital of Corporation
JurisdictionState of Himachal Pradesh
StatusIn force as published by the source

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