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Section 24 – The State Financial Corporations (Amendment) Act,2000

The State Financial Corporations (Amendment) Act,2000

Section 24. Amendment of section 36

In section 36 of the principal Act, for sub-section (2), the following sub-sections shall be substituted, namely:-

“(2) The shareholders present at the annual general meeting shall be entitled to discuss and adopt-

(a) The balance-sheet and profit and loss account of the Financial Corporation made up to the date on which its accounts are closed and balanced;

(b) The report of working of the Financial Corporation for the period covered by the accounts;

(c) The auditor’s report on the balance-sheet and accounts; and

(d) Proposals for declaration of dividend and capitalisation of reserves

(3) The shareholders present at an annual general meeting may also discuss any other matter to be transacted at such meetings in accordance with the provisions of this Act.”

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The State Financial Corporations (Amendment) Act,2000

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