Amendment in Notification No. GSR 978(E), dated 31-8-2006

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..... published in the Gazette of India, in Part II, Section 3, sub-section ( i ) dated 28th May, 1963, namely: In the said notification, for Schedule III, the following Schedule shall be substituted, namely : Schedule III Provisions of Act Extent of Application (1) (2) Section 53(1) Shall apply subject to the modification thart in the case of a Nidhi or Mutual Benefit Society a document may be served only on members who hold more than one thousand rupees in face value or more than one per cent of the total paid-up capital of the Nidhi company whichever is less. For other shareholders, document may be served by a public notice in newspaper circulated in the dis .....

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..... the provisions of the section, if the declaration of dividend is announced in the local language in one local newspaper of wide circulation and announcement of the said declaration is also displayed in the notice board of the Nidhi or Mutual Benefit Society for at least three months. Section 219(1) Shall apply, subject to the modification that, in the case of members who do not individually or jointly hold shares of more than one thousand rupees in face value or more than one per cent of the total paid-up capital whichever is less, it shall be sufficient compliance with the provisions of the section if an intimation is sent by public notice in newspaper circulated in the district in which the Registered Office of the Nidhi co .....

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..... irectors of the Nidhi or the Mutual Benefit Society, as the case may be, does not exceed ten per cent of the net profits or such Nidhi or Mutual Benefit Society or five lakh rupees, whichever is less; and ( c ) a remuneration payable under clause ( b ) of this proviso is approved by a special resolution passed in this behalf by Nidhi or Mutual Benefit Society, as the case may be. Schedule X Shall apply with the modification that the filing fee in respect of every return of allotment under section 75 shall be calculated at the rate of one rupee for every one hundred rupees or part thereof on the face value of the shares included in the return but shall not exceed the amount of normal filing fee payable. - .....

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