(See regulation 13)

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ified in section 25, sub-section (1), clause (a), of the said Act and that it intends to apply its profits, if any, or other income in promoting its objects and to prohibit the payment of any dividend to its members; ^[2][Now, therefore, in exercise of the powers conferred by sub-section (3) of section 25 of the said Act, read with the Notification of the Government of India in the Ministry of ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ividend, bonus or otherwise by way of profits, to persons who at any time are or have been members of the said company or to any of them or to any person claiming through any one or more of them; ^[5][(3) that no remuneration or other benefit in money or money's worth shall be given by the company to any of its members, whether officers, or servants of the company or not, except payment of out-....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....rs in return for any services (not being services of a kind which are required to be rendered by a member), actually rendered to the company; ^[7][(7)] that no alternation shall be made to the memorandum of association or in the articles of association of the company, which are for the time being in force, unless, the alteration has been previously submitted to and approved by the Central Gover....