Sugar Manufacture (Amendment) Act, 1962
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Additional provisions with respect to approved subsidiary company. |
10.—(1) Section 11 of the Principal Act shall apply to shares of an approved subsidiary company held by the Minister in like manner as it applies to shares of the Company held by him. | |
(2) Sections 14 and 15 of the Principal Act shall apply to an approved subsidiary company in like manner as they apply to the Company. | ||
(3) The restriction contained in paragraph (a) of section 4 of the Industrial and Provident Societies Act, 1893 , shall not apply in a case in which the member having or claiming an interest in the shares of a society registered under that Act is an approved subsidiary company and the interest does not exceed fifty per cent. of the total nominal value of such shares. |