LawgistThe State Financial Corporations Act
35Disposal of profits
(1) The Financial Corporation shall establish a reserve fund.
(2) After making provision for bad and doubtful debts, depreciation of assets and all other matters which are usually provided for by banking companies, the Financial Corporation may out of its net annual profits declare a dividend;
1*****
2*****
Download our fully-offline, High speed android app.- Click here
1. The proviso omitted by s. 22, ibid. (w.e.f. 5-9-2000).
2. Omitted by Act 39 of 2000, s. 22 (w.e.f. 5-9-2000).
INVESTMENT OF FUNDS, ACCONTS AND AUDIT
