Road Transport Corporations Act,1950

Act No : 64

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Section : Payment of interest and dividend.

28. Payment of interest and dividend. (1) 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. (2)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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