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Section 18: Disposal of profits when condition of State aid is not fulfilled

The Kerala State Aid to Industries Act, 1963State Act of Kerala · Act 34 of 1963

(1) During the continuance of State aid to any industry the profits of such industry shall, if distributed, be distributed only after interest due on debentures and loans has been paid and a reasonable amount has been set aside for depreciation or obsolescence of machinery and buildings and a further reasonable amount has been carried to reserve fund to be utilised in the prescribed manner.

(2) No dividend shall be paid to shareholders and no profit shall be taken by the owner in excess of such percentage rate upon the amount of the capital of the industry as the Government may fix from time to time during the continuance of State aid to any industry.

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Where this provision sits

ActThe Kerala State Aid to Industries Act, 1963
Section18
Marginal noteDisposal of profits when condition of State aid is not fulfilled
JurisdictionState of Kerala
StatusIn force as published by the source

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