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Section 24: Audited accounts of banking companies not to be questioned

The Payment of Bonus Act, 1965State Act of Punjab · Act 21 of 1965

(1) Where any dispute of the nature specified in section 22 between an employer , being a banking company, and its employees has been referred to the said authority under that section and during the course of proceedings the accounts of the banking company duly audited and produced before it, the said authority shall not permit any trade union or employees to question the correctness of such 1 Subs. by Act 23 of 1976 , Sec. 16, for “and in sections 24 and 25” (w.r.e.f. 25.9.1975).

2 Subs. by Act 66 of 1980, sec. 13, for “section 25” (w.r.e.f. 21.8.1980) 3 Ins. by Act 66 of 1980 , sec. 14 (w.r.e.f. 21.8.1980) 16 accounts , but the trade union or employees to question the correctness of such accounts, but the trade union or employees may be permitted to obtain from the banking company such information as is necessary for verifying the amount of bonus due under this Act.

(2) Nothing contained in sub-section (1) shall enable trade union of the employees to obtain any information which the banking company is not compelled to furnish under the provisions of section 34A of the Banking Regulation Act, 1949 (10 of 1949)].

Where this provision sits

ActThe Payment of Bonus Act, 1965
Section24
Marginal noteAudited accounts of banking companies not to be questioned
JurisdictionState of Punjab
StatusIn force as published by the source

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