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This Act may be called the Preference Shares (Regulation of
Dividends) Act, 1960.
(2) It extends to the whole of India:
Provided that it shall not apply to the State of Jammu and Kashmir* except to the extend to which the
provision of this Act relate to the regulation of dividends on preference shares of banking and insurance
companies and financial corporations.
1[(3) Notwithstanding anything contained in sub-section (2) the provision of this Act shall, in their
application to the Union territory of Pondicherry, have effect subject to the modifications specified in the
Schedule.]
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1. Ins. by Act 26 of 1968, s. 3 and the Schedule (w.e.f. 24-5-1968).
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*. _Vide_ notification No. S.O. 3912(E), dated 30th October, 2019, this Act is made applicable to the Union territory of Jammu and Kashmir and the Union territory of Ladakh.
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