Record date definition expanded to include securities, affecting entitlement to dividends and additional units under tax law The amendment makes sub section (8) applicable to "securities or units" and revises the Explanation: "record date" is the date fixed by companies, Mutual ... Summary
Record date definition expanded to include securities, affecting entitlement to dividends and additional units under tax law
The amendment makes sub section (8) applicable to "securities or units" and revises the Explanation: "record date" is the date fixed by companies, Mutual Funds or their administrators, business trusts, or Alternative Investment Funds to determine entitlement to dividends, income or additional securities or units without consideration; and "unit" is defined to include business trust units, units referenced in the Explanation to section 115AB, beneficial interests in Alternative Investment Funds, and shall include shares or partnership interests.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.