The Road Transport Corporations Act, 1950
28. Payment of interest and dividend.
- Where 5[ the whole or part of the
capital of a Corporation] is provided by the Central
Government and the State Government under sub-section (1) of section
23, the Corporation shall pay interest on such capital at such rate as may,
from time to time, be fixed by the State Government in consultation with, the
Central Government and such interest shall be deemed to be a part of the
expenditure of the Corporation.
- Where the Corporation 5[raises the whole or any part of its capital] by
issue of shares, it shall pay dividend on such shares at such rate as may, from
time to time, be fixed by the Corporation, subject to any general limitations
which may have been imposed by the
State Government consultation with the Central Government, and such dividend
shall be deemed to be a part of the expenditure of the
Corporation.
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