Insertion of new sections 28B and 28C.

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....t after providing for depreciation, or for any previous financial year or years arrived at after providing for depreciation and remaining undistributed, or out of both the aforesaid surpluses and profits: Provided that no dividend shall be declared or paid by the Corporation from its reserves other than free reserves: Provided further that no dividend shall be declared or paid by the Corporation unless any losses carried over from previous years and any depreciation not provided for in previous years are set off against the surpluses and profits referred to in sub-section (2) of section 28 for the financial year for which the dividend is proposed to be declared or paid. (2) The Board may, during any financial year or at any time durin....

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.... sub-section (2) of section 28 for the purpose of issuing fully paid-up bonus shares or paying up any amount for the time being unpaid on any share held by members: Provided further that any dividend payable in cash may be paid by cheque or warrant or in any electronic mode to the member entitled to such payment. Unpaid Dividend Account. 28C. (1) Where a dividend has been declared by the Corporation but has not been paid or claimed within thirty days from the date of declaration to any member entitled to payment thereof, the Corporation shall, within seven days from the expiry of the said period of thirty days, transfer the total amount of dividend which remains unpaid or unclaimed to a special account to be opened by the Corporation ....