STATE OWNED CORPORATIONS ACT 1989 - SECT 14
Dividends
STATE OWNED CORPORATIONS ACT 1989 - SECT 14
Dividends
14 Dividends
(1) The board of a company SOC and the voting shareholders may agree that
payments required to be made by the SOC or any of its subsidiaries in respect
of dividends will be applied in the purchase of shares by shareholders in the
SOC.
(2) If any such payments are applied in the purchase of shares, the
payments may be appropriated for that purpose without being paid into the
Consolidated Fund.
(3) Otherwise, dividends declared for a company SOC or any
of its subsidiaries and payable to eligible Ministers are to be paid to the
Treasurer on behalf of the State for payment into the Consolidated Fund.
