https://www.taxtmi.com/acts?id=14460 Rule 3 allows voluntary transfers to reserves above the baseline provided that if a dividend is declared the company ensures a minimum distribution maintaining either the average dividend rate over the three preceding years or, where bonus shares were issued, the average dividend amount over those years, subject to an exception when net profits after tax fall by twenty percent or more relative to the average of the two preceding years; if no dividend is declared, the transfer from current profits must be lower than the three year average dividend amount. en-us Thu, 02 Jun 2011 12:41:38 +0530 Thu, 02 Jun 2011 12:41:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=14460 Rule 3 allows voluntary transfers to reserves above the baseline provided that if a dividend is declared the company ensures a minimum distribution maintaining either the average dividend rate over the three preceding years or, where bonus shares were issued, the average dividend amount over those years, subject to an exception when net profits after tax fall by twenty percent or more relative to the average of the two preceding years; if no dividend is declared, the transfer from current profits must be lower than the three year average dividend amount. Act-Rules Companies Law Thu, 02 Jun 2011 12:41:38 +0530 https://www.taxtmi.com/acts?id=14460