Section 4F

Restriction on exercising of voting right.

The State Financial Corporations Act, 1951

  • Act 63 of 1951
  • Ministry of Finance
  • Department of Financial Services
About this Act

An Act to provide for the establishment of State Financial Corporations.

All sections
    1[4F. Restriction on exercising of voting right.--Every shareholder of the Financial Corporation holding equity shares shall have a right to vote in respect of such shares on every resolution and his voting right on a poll shall be in proportion to his share of the paid-up equity capital of the Financial Corporation:
     Provided however, that no shareholder, other than a shareholder referred to in clauses (a), (b) and (c) of sub-section (3) of section 4, shall be entitled to exercise voting rights in respect of any equity share held by him in excess of ten per cent. of the issued equity capital.]

Notes

1. Ins. by Act 39 of 2000, s. 6 (w.e.f. 5-9-2000).

Source: India Code (Legislative Department, Govt. of India). Check the official Gazette before relying on it in court. Not legal advice. Free legal aid: 15100 (NALSA) · Know your rights

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