"Ail Act to provide for the payment of bonus to persons employed in pertain establishments on the basis of profits or on jfhe basis of production or productivity and for matters connected therewith.".
Amendment of long title.
4. In section 1 of the principal. Act,—
(a) to sub-section (3), the following proviso shall be added, namely: — "Provided that the appropriate Government may, after giving not less than two months' notice of its intention so to do, by notification in the Official Gazette, apply the provisions of this Act with effect from such accounting year as may be specified in the notification, to any establishment or class of establishments [including an establishment being a factory within the meaning of sub-clause (it) of clause (m) of section 2 of the Factories Act, 1948] employing such number of persons less than twenty as may be specified in the notification, so, however, that the number of persons so specified shall in no case be less than ten.";
(b) in sub-section (4), after the existing proviso, the following proviso shall be inserted, namely: — "Provided further that when the provisions of this Act have been made applicable to any establishment or class of establishments by the issue of a notification under the proviso to subsection (3), the reference to the accounting year commencing on any day in the year 1964 and every subsequent accounting year or, as the case may be, the reference to the accounting year commencing on any day in the year 1968 and every subsequent accounting year, shall, in relation to such establishment or class of establishments, be construed as a reference to the accounting year specified in such notification and every subsequent accounting year.";
(c) in subjection (5),—
(i) the words, brackets, letter and figure "under clatise (b) of sub-section (3)" shall be omitted;
(ii) the words, brackets and figure "or, as the case may be, the number specified in the notification issued under the proviso to sub-section (3)" shall be added at the end.
63 of
1948.
Amendment of section 1.
5. In section 2 of the principal Act,—
(a) in clause (4),—
(i) in sub-clause (a), the brackets and words "(other than a banking company)" shall be omitted;
(ii) the words, brackets and figures "and includes any amount treated as such under sub-section (2) of section 34" shall be omitted;
Amendment of section 2.
SEC. 1] XHI GAZETTE OF INDIA EXTRAORDINARY toi
(b) in, clause (8), after the words, brackets and figures "anysubsidiary bank as denned in the State Bank of India (Subsidiary Banks) Act, 1959", the words, brackets, figures and letter "any corresponding new bank specified in the First Schedule to the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, any co-operative bank as denned in clause (b) (ii) of section 2 of the Reserve Bank of India Act, 1934," shall be inserted.
38 of
1959.
5 of 1970.