Companies (Central Government's) General Rules and Forms (Second Amendment) Rules, 1994 - Insertion of rule 23 - GSR 598(E), - Companies Law

NOTIFICATION NO. GSR 598(E), DATED 28-7-1994 Subject:- Companies (Central Government's) General Rules and Forms (Second Amendment) Rules, 1994 - Insertion of rule 23 G.S.R. 598(E).- In exercise of the powers conferred by clauses ( a ) and ( b ) of the subsection (1) of section 642 of the Companies Act, 1956 (1 of 1956) and all other powers hereunto enabling, the Central Government hereby makes the following rules further to amend the Companies (Central Government's) General Rules and Forms, 1956, namely: 1. (1) These rules may be called the Companies (Central Government's) General Rules and Forms (Second Amendment) Rules, 1994. (2) They shall come into force on the date of their publication in the Official Gazette. 2. In the Companies (Central Government's) General Rules and Forms, 1956, after rule 22, the following rule shall be inserted, namely: "23. Payment of dividend to shareholders and interest to debenture-holders. The amount of dividend payable to shareholders and the amount of interest payable to debenture-holders under the provisions of the Companies Act, 1956 (1 of 1956) may be rounded off to the nearest rupee and, for this purpose, where such amount contains a part of a rupee consisting of paise then if such part is fifty paisa or more, it shall be increased to one rupee and if such part is less than fifty paise it shall be ignored."