Section 5: Over-riding effect of Act.

The Preference Shares (Regulation of Dividends) Act, 1960Central Act · Act 63 of 1960

(1)The provisions of this Act shall have effect notwithstanding anything to the contrary contained in any law for the time being in force or in the memorandum or articles of a company or in any agreement between the company and its shareholders or in any resolution passed by the company in a general meeting or by its Board of directors.

(2) Notwithstanding anything contained in this Act, a company may, in the manner provided in section 106 of the Companies Act, increase the amount of dividend in respect of a preference shall beyond the limit specified in section 3 or section 4 of this Act.

Where this provision sits

Act	The Preference Shares (Regulation of Dividends) Act, 1960
Section	5
Marginal note	Over-riding effect of Act.
Jurisdiction	Central
Status	In force as published by the source

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