Section 52 - Amendment of Act 63 of 1960 - Finance Act, 1966

52. Amendment of Act 63 of 1960 In section 4A of the Preference Shares (Regulation of Dividends) Act, 1960, for the words such deduction shall in no case exceed twenty-five per cent. of the stipulated dividend. , the following words, figures, letters and brackets shall be substituted, namely:- such deduction made by the company from any dividend declared after the 28th day of February, 1966 shall in no case exceed twenty-seven and a half per cent. of the aggregate of- (i) the stipulated dividend, and (ii) an amount equal to eleven per cent. of the stipulated dividend as specified in sub-section (3) of section 3. .