This Act may be called the Preference Shares (Regulation of Dividends) Act, 1960. (2) It extends to the whole of India: Provided that it shall not apply to the State of Jammu and Kashmir* except to the extend to which the provision of this Act relate to the regulation of dividends on preference shares of banking and insurance companies and financial corporations. 1 [(3) Notwithstanding anything contained in sub-section (2) the provision of this Act shall, in their application to the Union territory of Pondicherry, have effect subject to the modifications specified in the Schedule.]Open in Lexace · Ask the AI about this section
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